Bedbank Hotelbeds Group is to acquire Tourico Holidays for an undisclosed sum.
It said the deal would help fuel its expansion in North America, where Tourico is based.
Tourico Holidays is a global travel distribution company contracting directly with hotels, flights, cruise lines, attractions, car rentals, holiday homes and more.
It works on a ‘high volume, wholesale model’ to broker this inventory to over 4,900 clients in 100 countries using proprietary technology.
Last April, HotelBeds was sold by TUI Group to Cinven and Canada Pension Plan Investement Board for $1.3 billion.
Hotelbeds executive chairman Joan Vila said: "With the backing of Cinven and CPPIB we are entering the next phase of our development since becoming an independent company back in September.
"The proposed deal will enable us to enhance our footprint, especially in Tourico Holidays’ home market of North America whilst they will benefit from belonging to Hotelbeds Group’s global network. Together we will combine our best in class technology and distribution expertise for the benefit of both our hotel partners and clients."
The statement said Tourico Holidays will continue to operate as an independent business but the long-term strategy is to combine the businesses.
The deal is subject to customary regulatory and anti-trust approvals.
