Travel services provider Thomas Cook India Group Monday said it has acquired 51 per cent stake in imaging solutions and services firm Digiphoto Entertainment Imaging (DEI), at an enterprise value of USD 40.6 million (around Rs 289 crore).
The acquisition marks the group's entry into an adjacent sector, complementary to its travel and travel-related services portfolio, Thomas Cook India said in a statement.
Thomas Cook India Chairman and Managing Director Madhavan Menon said: "Our acquisition of DEI, a global imaging solutions and services giant, presents the Thomas Cook India Group an opportunity to participate in an exciting new business space, adjacent to our core travel services portfolio that is both PAT and free-cash accretive from day one."
Disclaimer: No Business Standard Journalist was involved in creation of this content