Remark Media Buys Online Travel Destination Vegas.com; Terms Not Disclosed

(RTTNews) - Remark Media Inc. (MARK), a digital media company, announced Wednesday the acquisition of Vegas.com, the premiere online travel booking site for the Las Vegas market. The company didn't reveal the terms of the deal.

Remark is taking over Vegas.com from the Greenspun Corp., the family-owned corporation that built Vegas.com from its infancy and laid the foundation for what comes next.

Vegas.com attracts 3.4 million visitors per month across all platforms, including the popular Google and iOS Las Vegas app.

Remark said it will expand the well-established brand's presence through the development of key partnerships. Remark's goal is to make Vegas.com the go-to booking destination for new millennial travelers.

The company said it is currently working on deals that will be announced after the acquisition is finalized in mid-September. Piper Jaffray & Co. served as exclusive financial advisor to Vegas.com on the transaction.

Steve Sisolak, Chairman of Clark County Commission, said, "Vegas.com is a leader in the world of destination-specific online travel and accommodations. More importantly, Vegas.com has been instrumental in promoting the Las Vegas brand on a global basis. With Remark Media's purchase of Vegas.com, we now can expect the best of two of the most influential digital media companies."