Canadian OTA itravel2000 Is Sold

A Canadian investment firm has acquired the online travel agency itravel2000 from Travelzest, its financially troubled U.K.-based owner. The sale to Aldenham Canada Acquisiton Corp. was approved by the Ontario Superior Court today. Aldenham Canada is a privately-held Canada-based investment company that aims to build “long-term investments in the online travel sector,” according to an announcement of the sale. Among the company’s backers is Elleway Acquisitions, which had been a major investor in Travelzest. Elleway recently demanded that Travelzest repay its loans, but the firm was unable to do so. In a separate transaction, Aldenham Canada also acquired the Cruise Professionals, an Ontario-based luxury cruise agency, from Travelzest.