Locomote has some special news!! Please read the ASX announcement below;
“This is more than just an acquisition – it's a milestone that validates everything we've built at Locomote and the belief our customers have had in us from the very beginning. Locomote was created to challenge the traditional way business travel is managed – with our proprietary end-to-end technology that simplifies the complexities of business travel, is digital-first, and is designed around meeting the real needs of modern business.
Becoming part of Webjet Group means we can scale faster and unlock a whole new level of possibility for our current and future customers. This new era strengthens our ability to serve businesses of all sizes – from SMEs to large corporates – by enhancing the technology, insights, and service they depend on to manage travel more effectively, saving time, money, and supporting their business travellers with confidence.
Our entire team can’t wait to start this new chapter as Webjet Business Travel and accelerate every aspect of our capabilities. Together, we’ll continue to deliver on our vision at scale and set a new benchmark for how business travel is managed for every company.We’re excited and just getting started.”
- Ross Fastuca - Co-Founder & CEO
Webjet Group accelerates growth strategy with business travel acquisition
- Strategic acquisition of business travel company - Locomote - significantly accelerating delivery of a business travel offering, projected to deliver material TTV and EBITDA growth by FY30.
Locomote acquisition to accelerate delivery of Webjet Group’s Business Travel offeringWebjet Group Limited (ASX:WJL) (Webjet Group or Company) is accelerating delivery of a business travel offering with the strategic acquisition of Locomote Holdings Pty Ltd (Locomote), a Melbourne-based, digitally-led business travel technology company, with a fully developed end-to-end corporate booking platform encompassing all aspects of business travel.The Company’s FY30 Strategic Plan identified four core initiatives to double TTV in five years:
- Expanding international flights market share
- An expanded Hotels & Packages offering
- A tailored Business Travel offering
- Refreshing the Brand and delivering the Loyalty opportunity.
A tailored Business Travel offering would build on Webjet Group’s current exposure to the business travel market by delivering a distinct offering to address demand for a seamless digital experience. The acquisition of Locomote provides the opportunity to fast-track this initiative and deliver significant TTV and EBITDA growth by FY30.Webjet Group has agreed to acquire 100% of the shares in Locomote for upfront cash consideration of $17 million. Subject to certain EBITDA targets being satisfied, an additional $6 million deferred earn-out will be payable in 3 years.Key strategic benefits of the acquisition include:
- Rapid speed-to-market for a Webjet Business Travel offering – enabling prompt delivery of a tailored solution that enhances the experience for Webjet Group’s existing business travel customers, leverages Locomote’s client base and sales pipeline, and drives new customer growth.
- Strategic use of capital – the Company’s FY30 Strategic Plan had earmarked significant capital to deliver a business travel offering. The acquisition will enable the launch of a stand-alone Webjet Business Travel offering three years earlier and at a lower cost than building in-house.
- Established, purpose-built platform – Locomote’s technology is a modern, fully-developed, end-to-end online business travel booking platform with a clear future development plan and AI roadmap. This scalable and digital-first platform is ideal for customers seeking a transparent and cost-conscious business travel solution.
- Builds internal capabilities – Locomote’s 30+ team will provide Webjet Group with additional established expertise, supplier relationships, operational knowledge, and AI capability within the business travel sector. Their experienced leadership will add further depth and breadth to Webjet Group’s capabilities in this space.
Commenting on the acquisition, Katrina Barry, Webjet Group’s CEO and Managing Directorsaid:“We are excited to announce the acquisition of Locomote, a strategic transaction that significantly accelerates our growth plan and positions Webjet Group to capture a greater share of the business travel market. Webjet Group currently services business travellers in an unstructured capacity and this acquisition will allow us to serve customers in a more structured way, particularly as their needs grow more complex. Our initial plan involved significant capital investment to organically develop our existing technology to meet business travel needs. The acquisition of Locomote, with its secure purpose-built technology, positions us to swiftly provide a distinct business travel offering, avoiding any lengthy development phase and at a lower overall cost. Following an extensive period of engagement and due diligence, we are confident this acquisition represents meaningful strategic value for Webjet Group shareholders and aligns with our FY30 vision and long-term value creation strategy.”Locomote operates a purpose-built platform with its own mid-office, broad customer base covering businesses of all sizes, and sales pipeline. Locomote’s FY25 TTV was circa $70 million. Webjet Group intends to rebrand Locomote as Webjet Business Travel and all current Locomote staff are expected to remain with the business, including Co-Founder & CEO, Ross Fastuca, COO, Tass Messinis, and CTO, Mario Rogic.The acquisition is expected to complete in the second half of FY26, subject to satisfaction of customary closing conditions.
