Australian dotcom entrepreneur Daniel Petre has scooped up nearly 20 per cent of and is set to take a seat on the online travel agent's board, sending its shares soaring.

The deal with Mr Petre will provide with an additional $1.8 million in funds, which will be invested in its websites, and

Mr Petre's technology investment company, netus, will acquire a 10 per cent stake, or 8.63 million shares, in from the company's founding shareholder, Amadeus. will then issue a further 10.66 million shares at 17¢ each to netus, leaving it with a 19.9 per cent shareholding in the company.

Mr Petre will also join's board once the transactions are completed, with Amadeus' Bill Lawler resigning following the sale of the company's shareholding. shares soared 8.5¢, or 45 per cent, to 27¢.

The placement will raise $1.8 million for, bringing the total capital raised by the company this year to $3.4 million. It recently made a one-for-seven rights issue. said the additional funds would be used to build and promote the websites.

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