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Yatra acquires corporate travel service provider Air Travel Bureau

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CIOL Writers
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Gurgaon based online travel agency and search engine, Yatra.com has acquired corporate travel service provider Air Travel Bureau(ATB) for an undisclosed amount. As a part of the deal, Yatra will be taking over all of the ATB's debts and shares.

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Commenting on the deal, Yatra co-founder and CEO Dhruv Shringi said, “We believe that as a combined entity, we are now the largest corporate travel services platform in India by gross bookings. 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.”

The first part of the transaction will be closed by mid-August 2017 while the second part will be concluded by the second quarter of 2018.

According to the company statement, ATB is India’s largest independent corporate travel services provider with gross bookings of Rs 1,500 crore, generated through a client base of over 400 large and medium-sized businesses spread across the country.

ATB specializes in corporate travel management, MICE operations, and leisure tourism and has been in this business for 54 years with a pan-India presence through a team of over 700 travel experts.

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