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Flight Centre Group takes a stake in business travel platform Upside
Flight Centre Group has made yet another strategic investment in the business travel space.
It is investing an undisclosed amount in Washington, D.C.-based Upside Travel but says it will then become its largest shareholder with a 25% stake.
Upside only launched two years ago by Priceline founder Jay Walker.
Upside offers a corporate tech solution targeting SMEs with a no-fee, no-contract travel management service.
It will continue to operate under its own brand while tapping Flight Centre Group’s supplier relationships and global reach.
The companies will cooperate on various distribution initiatives.
"We have been impressed by the capability and flexibility of Upside’s technology and team to improve the business traveler experience," said Dean Smith, president of Flight Centre Group Americas.
Upside CEO Jay Walker said: "Not only does FLT’s global scale and experience immediately make our product more complete, but FLT’s people and expertise also make us smarter."
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