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TBO acquires online business of Jumbo Tours Group to Expand European Market

TBO pays 25 million euros to acquire the online operations of the Spanish Jumbo Tours Group.

TBO acquires online business of Jumbo Tours Group to Expand European Market

On December 19, 2023, Jumbo Tours Group of Spain's online business was to be acquired by General Atlantic-backed global travel distribution platform TBO through its wholly owned subsidiary Tek Travels DMCC. According to the draft IPO papers, the company paid 25 million euros for the business.


Through this acquisition, TBO will gain access to Jumbo's sizable clientele throughout Europe as well as excellent supply in the Caribbean, North Africa, and Europe, among other regions. With the use of an application programming interface (API) solution, Jumbonline provides tour operators and wholesalers with access to over 120,000 hotels in Europe, the Caribbean, and North Africa.

 

With the use of an application programming interface (API) solution, Jumbo Tours Group provides tour operators and wholesalers with access to over 120,000 hotels in Europe, the Caribbean, and North Africa.

 

The CEO and CFO of Jumbonline will be Mustafa Korkmaz and Anurag Aggarwal, respectively, according to TBO Tek, which has submitted its draft IPO documents to SEBI.

 

TBO was established in 2006 by co-founders Ankush Nijhawan and Gaurav Bhatnagar. It links buyers, such as travel agencies and tour operators, with travel suppliers, including hotels, airlines, and car rental companies.

 

Jumbo Tours Group is an international tourism operator that provides services and products to tourism operators and travel agencies worldwide. Through a single platform, the Jumbo online company distributes goods to wholesalers and tour operators. Alpitour World will continue to include Jumbo Tours Group's destination management company operations.

 

This development is in line with TBO's global growth plans, which are centered around increasing investments and seeking out similar partnerships in order to hire more people, expand, and enhance the customer experience in order to realize its vision of empowering and simplifying the travel ecosystem.


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