India's Nasdaq-listed OTA Yatra.com has agreed to acquire Air Travel Bureau (ATB) for an undisclosed sum.
A statement said that ATB is India's largest independent corporate travel services firm, with gross annual bookings of around INR 15 billion ($230 million). By combining ATB with its existing business travel operations, Yatra believes it is now the biggest corporate agent in India.
ATB is part of the Uniglobe network, and has more than 400 medium and large sized corporate clients. It was founded in 1962 and has some 700 agents in its books.
Dhruv Shringi, co-founder and CEO 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."
Meanwhile, Sunil Narain, chairman and CEO of ATB, noted the chance "to further enhance the offerings we provide to our customers and partners by leveraging Yatra’s technology platform and large hotel network."
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