The stock value in travel agency group Flight Centre edged higher after announcing the acquisition of Indian firm Travel Tours Group for an undisclosed amount.
Travel Tours Group has a strong customer base in South India markets like Bengaluru and Chennai, said Flight Centre managing director Graham Turner.
It generated sales revenue of $150 million in 2016.
Family-owned Travel Tours Group has 18 locations with interests in foreign exchange, MICE business and leisure travel.
The deal for Travel Tours Group is the third for Flight Centre in a month.
It just recently purchased Travellink’s corporate travel business in Germany, Sweden, Finland, Norway and Denmark.
