M&A

M&A

Global travel distribution platform TBO Tek buys Spanish co Jumbo's online biz for Rs.2.5 Cr

Economic Times  

General Atlantic-backed global travel distribution platform TBO Tek is to acquire the online business of Jumbo Tours Group of Spain, through its wholly owned subsidiary Tek Travels DMCC, for INR 2.5 crore. The acquisition will give TBO Tek access to Jumbo's clientele and content from across prime destinations in Europe. Jumbonline Accommodations & Services has been demerged as an online business from Jumbo Tours Group. The DMC (destination management company) business of Jumbo Tours Group will remain a part of Alpitour World. Jumbo Tours Group offers services and products to tourism operators and travel agencies worldwide. The Jumbo online business distributes products for wholesalers and tour operators under one single platform. Its API solution provides access to over 120,000 hotels with 15,000 directly contracted hotels.