TBO Tek Acquires Jumbo Tours Groups Online Business for €25 Million

Mumbai, December 20: Global travel distribution firm TBO Tek Ltd (TBO) announced on Wednesday that its subsidiary, Tek Travels DMCC, has acquired the online business of Spain-based Jumbo Tours Group for 25 million euros (over Rs 228 crore).

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Expanding Presence in Europe

With the acquisition of Jumbonline Accommodations & Services S L U, TBO aims to expand its presence in Europe, according to a statement. Jumbo Tours Group (JTG) is a leading international tourism operator and destination management firm based in Spain.

Strategic Acquisition

The deal is valued at 25 million euros, and the Jumbonline business offers a comprehensive range of products for wholesalers and tour operators on a single platform. Gaurav Bhatnagar, Co-Founder and Director of Tek Travels DMCC, expressed excitement about the acquisition, stating that it provides access to Jumbo's clientele and high-quality content from prime destinations in Europe and the Caribbean.

Leveraging TBO's Strengths

JTG operates two other brands: Jumbobeds, an online wholesaler for travel agencies, and Jumbotransfers, which provides various transport services. Gines Martinez, CEO of Jumbo Tours Group, expressed enthusiasm about leveraging TBO's strengths in travel distribution worldwide, particularly in the Middle East and Asia-Pacific (APAC) regions.

Global Footprint and Diversified Revenue

TBO boasts a diversified global footprint and revenue mix, with regional operation centers across India, Asia, the Middle East, Europe, North America, and Latin America. The acquisition of Jumbo Tours Group's online business is expected to further strengthen TBO's position in the global travel industry.