By Jonathan Davies

Online travel booking service has been sold to Swiss travel firm Bravofly Rumbo for $120m (£76m). was founded in 1998 by Martha Lane Fox and Brent Hoberman, before rising to fame during the boom of the 2000s.

US tech firm Sabre Holdings bought the booking service in 2005 in a deal with valued it at £577m. It was valued at £768m when it was floated on the stock exchange in 2000.

It struggled in its early life on the stock exchange, falling below its floatation within three weeks. And it took three years to make an pre-tax profit.

Sabre said in August that it planned to sell in order to focus on its other tech businesses.

Fabio Cannavale, Chairman of Bravofly Rumbo Group, said was a "perfect fit".

"Its business complements and expands our offering in Europe and, with its strong presence in the hotel and vacation sector, diversifies our product revenue streams," he said.

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