Tek Travels DMCC buys 51 pc stake in BookaBed AG

Both TBO and BookaBed have a significant opportunity to leverage each others strengths and further expand our presence in current and future markets, TBO co-founder and Joint Managing Director Gaurav Bhatnagar said in a statement.Investment in BookaBed will enable TBO to scale up its services and offerings, he added without disclosing the deal size.We are very excited to partner with TBO and delighted to join the TBO family.

Tek Travels DMCC, a wholly-owned subsidiary of global travel distribution platform TBO Tek, on Tuesday said it has acquired a 51 per cent stake in Switzerland-based B2B accommodation wholesaler BookaBed AG. ''We are excited to welcome everyone at BookaBed to the TBO family. BookaBed allows TBO's entry into the Irish market and strengthens our UK presence. Both TBO and BookaBed have a significant opportunity to leverage each other's strengths and further expand our presence in current and future markets,'' TBO co-founder and Joint Managing Director Gaurav Bhatnagar said in a statement.

Investment in BookaBed will enable TBO to scale up its services and offerings, he added without disclosing the deal size.

''We are very excited to partner with TBO and delighted to join the TBO family. As the world returns to travel, we look forward to leveraging TBO's technology and content. This combined with our distribution reach and market position in Ireland and the UK creates an even more compelling value for our customer partners,'' BookaBed CEO Karl Tyrrell said.

There will be no change to BookaBed management, sales or support teams.

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