TBO.COM signs deal to acquire online business of Jumbo Tours Group, Spain

TBO.COM signs deal to acquire online business of Jumbo Tours Group, Spain

The DMC business of Jumbo Tours Group to remain part of Alpitour World

Global travel distribution platform TBO.com has announced that its wholly owned subsidiary, Tek Travels DMCC, has acquired 100% shareholding of Jumbonline Accommodations & Services S.L.U.

The business has been demerged as an online business from Jumbo Tours Group and TBO has said with this acquision it intends to further increase its presence in Europe.

Jumbo Tours Group is one of the biggest international tourism operators offering a range of services and products to tourism operators and travel agencies worldwide.

The Jumbonline business distributes an extensive range of products for wholesalers and tour operators all on one single platform.

Its API solution provides access to over 120,000 hotels with 15,000 hotels directly.

Complementing this business, there are two other brands, Jumbobeds, the leading online wholesaler for Travel Agencies and Jumbotransfers which offers a wide range of transport services at great prices.

Gaurav Bhatnagar, co-founder and director of Tek Travels DMCC, said: “This acquisition will give us not only access to Jumbo’s clientele but quality content from across prime destinations in Europe right down to the Caribbean.

“We continue to expand our global footprint by staying true to our commitment to simplifying global travel”.

Ginés Martinez, CEO of Jumbo Tours Group, said: “We are very excited with this partnership and look forward to leveraging TBO’s strengths in travel distribution across the world, specifically Middle East & APAC.

“Their tech, talent and growth have been very impressive, and we are happy to be a part of the TBO family”.

Gabriele Burgio, president and CEO of Alpitour World, added: “We strongly believe that there is a big potential in this alliance, TBO is a great partner in technology and highly specialised in the online business, while Jumbo Tours Group is a great provider of operations, contracting, local knowledge and representation in the destinations, we are sure both parties will get the most out of this joint project.”.

This development, whose operation has been carried out by Alantra, Escalona & De Fuentes and Andersen, reflects the growth plans that TBO has set globally as it continues to step up investments.