Yatra which is an online travel portal has acquired corporate travel service provider company, Air Travel Bureau(ATB). The deal between the two was fixed for an undisclosed amount. ATB is India’s largest corporate travel service provider with gross bookings of ₹1,500 crore and a client base of 400 companies in the country.
The acquisition will strengthen the Yatra’s position in the large and growing corporate travel market in India. They both combinedly will become the largest corporate travel services platform in India by gross bookings.
With this acquisition, Yatra has agreed to acquire all the outstanding shares of ATB and assume its debt. The debt amount has not yet been disclosed.
Dhruv Shringi, co-founder and chief executive officer of Yatra said,”This acquisition will allow us to deliver best-in-class experiences to an even wider set of travelers, through our web and mobile app platforms and enhance our reach to cross-sell our entire product suite, including hotels, to this customer base”.