Tek Travels DMCC, a wholly owned subsidiary of TBO Tek Limited has acquired 51% shareholding of BookaBed AG, one of Europe's Leading B2B accommodation wholesalers and headquartered in the canton of Zug. TBO is one of the leading global travel distribution platforms, connecting over 100,000 travel buyers across more than 110 countries with millions of travel suppliers.
The Investment in BookaBed will enable TBO to scale up its business's services and offerings. BookaBed AG, based in Switzerland, is also a B2B accommodation provider with a focus to the Irish and UK travel industries. BookaBed intends to increase its market share in Ireland and the UK by leveraging TBO's global API business, and TBO Academy that trains and educates travel agents and travel trade partners.
Karl Tyrrell, CEO and founder of BookaBed, said: "We are very excited to partner with TBO and delighted to join the TBO family. As the world returns to travel, BookaBed looks forward to leveraging TBO's technology and content. This combined with BookaBed's deep distribution reach and market position in Ireland and the UK creates an even more compelling value for BookaBed customer partners."
BookaBed will continue to service its customers as before and promote and operate the BookaBed brand that is well known in these markets. There will be no change to the management, sales or support teams.
(Press release / SK)
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