Lastminute.com, dotcom star and online travel agent is to be acquired by giant US rival, Sabre for $577m.

The firm only announced yesterday, that it had received an approach. Much less a full bid.

The price per share is 165p.

The Lastminute.com board have recommended the offer.

Said founder and chief exec Brent Hoberman: "Today's offer from Sabre is an endorsement of the achievements of everyone at lastminute.com. Over the past seven years, we have built a business from scratch into one of Europe's leading travel and leisure groups, with over seven million customers and total transactions worth £992 million for the financial year ended 30 September, 2004."

Sabre is the owner of the Travelocity agency.

The online travel business has seen a wave of consolidation since the dotcom crash.

The UK, France, Germany, Italy, Scandinavia and Spain will now have an expanded Travelocity presence.

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