In its second acquisition in a month, Australia-based
Corporate Travel Management (CTM) has acquired Tramada Holdings, a provider of
cloud-based travel management software for corporate, leisure and broker
markets.
In late September, CTM
acquired U.S.-based Travel and Transport for $200 million. Terms of this
latest deal have not been disclosed.
Tramada – which is also based in Australia - provides solutions
to streamline travel operations, data management, document production and
travel accounting for travel management companies, corporate travel
agencies, independent brokers and leisure and retail agents.
The platform is GDS-agnostic and NDC-capable
and integrates with other technology providers such as online booking tools,
mobile solutions and expense systems.
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“We are delighted to welcome
Tramada into the CTM family. Our partnership with them has gone back many years
and over that time we have been part of their journey to develop the leading
post-booking solution that they offer today,” says Greg McCarthy, CTM’s CEO for
Australia and New Zealand.
“Tramada will continue to service
the needs of all agency partners, continuing to innovate the product and
provide a full service to all agents, with the same team members in technology,
account management, operations, and finance.”
In August, CTM said it ended its
2019-20 financial year with net cash of A$32 million – better than it had
expected and with the company’s North American business the largest contributor
to revenue in the second
half of the year.
Tramada entered the North American market in 2017 and
counts Tower Travel Management as one of its customers.
In announcing
the financial results, CTM’s North America CEO, Maureen Brady, says, “North
America is the biggest corporate travel market in the world and it’s becoming
CTM’s powerhouse. We continue to grow market share and we have
implemented the new business we won late in the first half.”
She says
she expects the downturn caused by COVID-19 will create opportunities for
industry consolidation.
“Our strong
balance sheet means we can consider opportunities that fit our strategy and
acquisition criteria, and we have the balance sheet strength to pursue the
right ones."