Student globetrotters have been rich pickings for Student Universe, an American group of companies that specialises in student and youth travel. The company was bought recently by Australia’s Flight Centre in a deal worth €25m, and among the shareholders benefiting is Eddie Murphy (44), an Irish businessman living in Portugal who owned 27% of the equity. Murphy is also an investor in AccountsIQ, the multi-site accounting platform based in Blackrock.

Student Universe, headquartered in Boston, operated under an Irish holding company, Travelonomy Ltd, a company established by Murphy in 2002. By the end of 2007, Travelonomy had run up losses of €2.3m and Murphy funded the venture with loans. His fortunes changed in 2008 when Student Universe agreed a share exchange deal with Travelonomy.

Student Universe was founded by Norwegians Espen Odegard and Fredrik Stormer in 1999, and in 2000 the company launched its first online booking engine.
The pair brokered student deals with airlines, still its core business. Other activities span student marketing, group travel and working abroad programmes.

With €20m equity invested, Travelonomy had net worth of €17m in 2014. Forty staff were issued with shares just before the sale went through. LK Shields handled the vendor’s legals in a complicated deal spanning numerous jurisdictions.

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