Emedia Group, Inc. (OTC Pink: EMMD) is engaged in web solutions for retailers and is currently in the process of rolling out its own online travel booking service. Shares of the web applications business are gaining 16.15%, through afternoon trading on Thursday, February 23, 2017. Over the past month, Emedia Group, Inc. has seen average daily volume of 163,409 shares. However, volume of 197,715 shares or dollar volume of $253,075, has already exchanged hands Thursday.
Shares of Emedia Group, Inc. are climbing on Thursday, after the company announced that it has acquired and rebranded two iOS and Android-based travel apps. The acquisitions are all part of the company’s recent push into the online travel booking business, with it’s TheHotelGiant subsidiary. Here is the full press release detailing of the acquisition:
Emedia Group, Inc. Press Release:
NEW YORK, NY — (Marketwired) — 02/21/17 — Emedia Group, Inc. (OTC PINK: EMMD) (“Emedia” or “Company”) announces that it has acquired and rebranded two apps for iOS and Android smartphones.
Emedia continues to build on its TheHotelGiant brand with this newest offering to travelers.
“The Travel Giant” Apps available for both Android and iOS will give mobile users throughout the world access to flight and hotel bookings on their smartphone.
The apps can be found on Google and Apple’s respective “app stores”
Travel sales booked via PCs were around $116 billion in 2015 and mobile bookings brought in around $52 billion, according to an analysis by “Emarketer.” Mobile bookings could pass $70 billion this year while PC bookings are expected to remain at around $110 billion.
“This acquisition is a milestone for the company. It marks our entry into the smartphone arena where more than 60% of American travelers now book a trip. This will ensure that the company remains relevant and innovative for years to come as mobile platforms continue gaining market share,” said the CEO of Emedia Group, Inc.
About Emedia Group, Inc.
Emedia Group, Inc. develops customized web solutions with both commercial and retail applications. Currently focused on further development of fare aggregators and travel metasearch engines, Emedia Group owns and operates international online travel and hospitality web portals where users can search for flights and hotels and select the most economical options. Currently, the company’s flagship website is TheHotelGiant.com.
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