Online travel firm Webjet is acquiring JacTravel, the UK-based hotel consolidator and specialist in inbound services.

A statement from private equity firm Vitruvian, the owner of JacTravel, says the transaction value is £200 million.

Financial press puts it at around £200 million says the Australia-based company may seek to raise capital to help fund the deal.

Webjet is acquiring the business from private equity company Vitruvian Partners, which acquired JacTravel for $135 million three years ago.

Existing brands in the Webjet portfolio include Sunhotels, Lots of Hotels and FIT Ruum on the WebBeds B2B side while Webjet and Zuji make up its B2C offering.

London-based JacTravel operates the JacTravel and totalstay.com brands, with the latter acquired in March 2015.

Both brands now join the WebBeds division and according to a statement “boost its annual total transacted volume to over AUD 1 billion (£600 million).”

In the statement, Webjet managing director John Guscic, says:

“This acquisition is transformational to WebBeds, creating the #2 B2B player globally and the #2 B2B player in the important European market.”

The bedbank space has been hotly contended recently with Hotelbeds acquiring GTA back in March.

Hotelbeds is itself under private equity ownership after it was sold by TUI Group to Cinven and Canada Pension Plan Investment Board last April in a €1.2 billion deal.