TBO Tek surged 12.79% to Rs 1560.50 after the company announced its agreement to acquire US based Classic Vacations from Phoenix-based investment firm, The Najafi Companies, for an estimated total purchase of up to $125 million.
Classic Vacations is a premier B2B2C luxury travel company with a strong network of high-value Travel Advisors and deep ties with major American consortia. The company delivered a revenue of $111 million and an operating EBITDA of $11.2 million in the fiscal year ended Dec. 31, 2024.The acquisition brings together the power of TBOs first-class technology platform and worldwide inventory with Classic Vacations vast network of luxury travel advisors and suppliers.
TBOs expansion into serving the premium outbound travel market aligns strategically with Classic Vacations exclusive B2B brand and elite, high-value advisor network enhanced by its nearly five decades of success and brand recognition.
TBOs cofounder and joint managing director, Gaurav Bhatnagar, said, Were thrilled to bring Classic Vacations into the TBO family the companys longstanding delivery of outstanding services has earned the trust of its more than 10,000 travel advisors in the U.S., and their end customers, making them a seamless fit for our vision moving forward in the fast-evolving travel and tourism industry, Classic Vacations is led by a strong team of experts and will continue as an independent brand while leveraging TBOs technology and distribution capabilities to grow their business.
CEO of Classic Vacations, Melissa Krueger, said, Were excited for this next phase in our companys journey TBOs tech-centric solutions are geared fully toward our travel advisor community, TBO connects us to its first-class technology platform unlike what the wholesale market has ever had access to allowing us to bring even more resources, tools and insider connections to our valued travel advisors.
TBO Tek is a global travel distribution platform that aims to simplify the buying and selling travel needs of travel partners across the world.
The companys consolidated net profit increased 3.4% to Rs 62.97 crore on 22.2% jump in net sales to Rs 511.28 crore in Q1 FY26 over Q1 FY25.
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