European tour operating giant TUI Group has taken a 15.4% stake in Peakwork, the Germany-based software provider that was formed in 2009.
The financial details behind the investment are not disclosed.
The backing of TUI comes as Peakwork looks to attract other strategic investment opportunities.
Peakwork creates distribution software that it licenses out to the travel value chain.It connects supply -- from dozens of airlines, package suppliers, hotels,
It connects supply - from dozens of airlines, package suppliers, hotels, bedbanks, global distribution systems (GDSs), and other sources - with distributors, including tour companies (such as Thomas Cook), online travel companies (like Trivago), networks (like Expedia Affiliate Network), tours and activities brands (such as Get Your Guide), and other distributors.
Airline partners include Lufthansa, Eurowings, Emirates, EasyJet and Turkish Airlines.
TUI is already a customer of Peakwork, using its technology for the dynamic packaging business it has in Spain and Portugal.
The company says it sees the investment as a way of developing the "digital backbone of the tourism sector".
Frank Rosenberger, group executive committee member and TUI's group director for strategy, adds:
"The acquisition of the stake in Peakwork marks our entry into an innovative IT technology and a highly scalable business, aimed at further accelerating the pace of TUI’s growth.
"For a continued expansion of our portfolio of differentiated products and services, we need the technologies offering these products and services to our customers in a fast, transparent and tailored manner through all distribution channels."