Leading online travel company Yatra has acquired corporate travel service provider company Air Travel Bureau (ATB) for an undisclosed amount. Yatra said ATB is India’s ‘largest corporate travel services provider’ with gross bookings of Rs 1,500 crore and a client base of 400 companies in the country.
"This acquisition significantly strengthens our position in the large and growing corporate travel market in India. We believe that as a combined entity, we are now the largest corporate travel services platform in India by gross bookings,” said Dhruv Shringi, co-founder and chief executive officer of Nasdaq listed Yatra.
"This acquisition will allow us to deliver best-in-class experiences to an even wider set of travellers, through our web and mobile app platforms and enhance our reach to cross-sell our entire product suite, including hotels, to this customer base," Shringi.
Yatra has agreed to acquire all of the outstanding shares of ATB and assume its debt. The debt amount has not been disclosed. ATB specialises in corporate travel management, MICE operations and leisure tourism. Its web site says it has been in this business for 54 years with a pan-India presence through a team of over 700 travel experts.