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TQ3 in global expansion
Travel management company TQ3 has expanded with deals in Australia, New Zealand, Mexico and India.
TQ3Navigant – half owner of TQ3 Travel Solutions – has acquired SYNERGI Travel Australia and its partner company in New Zealand. The companies have a combined turnover of $270 million, with SYNERGI being Australia’s fourth largest TMC and second largest in New Zealand.
TQ3 has also taken a 25.1% stake in Koch Overseas de Mexico, which has represented the company in South America since March last year. Koch employs more than 100 staff in 10 locations with an annual turnover of $30 million.
Additionally. TQ3 has purchased eTravel India, which has been operating as TQ3 India since September 2001. It plans to expand its five offices following 30% year on year growth. The Indian business generates annual turnover of more than $30 million.
TQ3’s president and CEO Marc Hildebrand said: “2005 will see TQ3 turn its sights on Asia, South America and the Pacific region in particular, whose potential for fast, comprehensive and creative solutions to travel management has yet to be fully realised.”
The company operates in more than 80 countries with 1,200 locations and total revenues of $11 billion.
Report by Phil Davies
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