Corporate hotel booking service Arbitrip has been acquired by Israel-based travel group Talma Shlomo.
Prior to the deal, which values Arbitrip at between $35 million and $45 million, the company was owned by the venture capital firm Teddy Sagi Group, with Sagi himself owning half the shares.
Arbitrip was founded in 2015 by Benny Yonovich and Orel Jossef and has attracted investment of $4.5 million.
Talma Shlomo, which specializes in business travel, is seeking to strengthen its global presence through acquisition and recently acquired U.K-based Norad Travel Group.
The company says it is in negotiations to buy a similar travel company in the U.S.
Arbitrip offers a hotel booking platform for business trips that uses algorithms to save money and drive efficiency.
The technology sources rooms according to price as well as other parameters such as location of meetings, company preferences and travel policy.
Talma Shlomo will now rollout Arbitrip's technology across the group, but Arbitrip will remain independent.