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Technology Stocks : IFLY - travel sales on the web pure play -- Ignore unavailable to you. Want to Upgrade?

To: IFLYer who wrote (4688)	12/1/1999 6:22:00 AM
From: IFLYer	Read Replies (1) \| Respond to of 4761

About Peter Sontag, the new President of 800 Travel Systems: Former CEO of USTravel, a company with $2.4B annual sales: ustravelak.com Former Chairman of the Board at THOR-24, a premier provider of hotel reservation servicing 11,000 hoteliers and 15,000 travel agencies: thor24.com In 9/99, Peter Sontag engineered the merger of THOR to Trip.com: trip.com Sontag had been listed for four years by Business Travel News as one of the industry's ``25 Most Influential Executives.' Sontag's Latest Brainchild: Uniting Agencies in Mega Merger library.northernlight.com Summary: THOR chairman Peter Sontag has initiated a pitch at a 2-day conference to encourage travel agency owners to take part in a merging of 100 travel agencies. The proposed entity would constitute business amounting to $1 bil. THOR, a provider of travel services, would be the "catalyst for services" for the new, yet-to-be named company, says Sontag, who hopes tor each an agreement on the terms of the merger by 3/31/98. The completion of the merger of a minimum of 25 agencies is targeted for 6/1/98, then 65 more agencies would be added by 12/31/98. In 2/99, the new entity would initiate a roll-up of similar companies or roll into an existing company. If the company has not merged with or been acquired by a public entity by the deadline, a public offering would be planned for 6/99, pending stockholder approval.