Travelzoo acquires database of 2.8M US members from largest shareholder's subsidiary for $1.75M

TRAVELZOO

Purchase price $1.75M: $600K cash at closing, $1.15M credit for waived prepaid license fees.
Database contains at least 2,838,091 unique US member records acquired from Secret Escapes.
License agreement terminated; remaining $825K payment obligation eliminated; company expects lower operating expenses.
Transaction approved by Audit Committee of independent directors due to related-party nature (Azzurro Capital is largest shareholder).
Seller is Metaverse Travel Experiences (wholly-owned by Azzurro Capital).

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