StudentUniverse Acquires Travel Startup WeHostels

Waltham, Massachusetts, UNITED STATES

BOSTON, Nov. 18, 2013 (GLOBE NEWSWIRE) -- StudentUniverse announced today that it has signed a definitive agreement to acquire WeHostels - a mobile travel agency that allows users to book budget accommodation through its best-in-class mobile applications. The announcement comes less than two months after StudentUniverse's first international expansion into the UK.

"We are excited and honored to bring WeHostels' incredible people and technologies into our organization. We have been impressed with their agility and track record of innovation. The team will help drive our mobile strategy going forward. The new combined group of talented people will help accelerate the momentum and innovation of both our accommodation and mobile services," said StudentUniverse CEO, Atle Skalleberg.

"We started WeHostels with the vision of creating the greatest travel service for young travelers worldwide," said Diego Saez-Gil, WeHostels CEO and Co-founder. "Now we're excited to join the world's premier online travel company for young travelers. We feel confident that this will accelerate our growth and that we can add significant value as StudentUniverse continues to expand."

The terms of the transaction will not be disclosed.

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About WeHostels

WeHostels is an award-winning mobile travel agency for the youth segment. Through its mobile apps, travelers can book affordable accommodations (hotels & hostels) in more than 800 cities and discover events (concerts and festivals) around the world. Entrepreneur Magazine awarded the company among the "100 Brilliant Companies of the Year" and PhoCusWright as the "Most Innovative Travel Startup of the Year".