Former rock star Bob Geldof is selling his internet travel site, Deckchair.com to rival World Travel Holdings.
World Travel will buy Deckchair for £3.2m sterling in shares, loan notes and options and a further £6m more in shares will be paid in three years' time if the site meets its targets.
UK-focused Deckchair has a quarter of a million registered users and will target global markets after an imminent relaunch.
World Travel is an Internet-based company supplying travel products and services, mainly to travel agents. It said the acquisition should speed its path to profitability,
Reports say that Bob Geldof will stay on as Deckchair's figure head in an effort to lure fans around the world to the site. He will also join World Travel's board.
