TUI Travel has bought UK-based travel excursion and tours provider isango! for an undisclosed sum.
The business will form part of TUI Travel Accommodation & Destinations, the travel giant’s accommodation and inbound travel arm. It provides airport meet and greet services, excursions, transfer, tours and other tailored products and handled 12 million customers last year.
TUI said its acquisition of isango! was part of its strategy to invest in fast-growing segments of travel and to enhance its plans to grow online sales of destination services.
Isango! was launched in 2007 to offer an online booking facility for tours, sightseeing, attractions and activities in more than 60 countries.
It claimed the market for tours and activities is predicted by Euromonitor to grow at over 7% a year until at least 2015.
Carlos Muñoz, managing director of TUI Travel A&D, B2B division said: "Isango fits well into our strategy, and brings complementary products, as well as innovative technologies.
"We will be integrating isango´s technologies and product lines into our business to enhance our online distribution channels and increase sales of our travel products in destinations to our customers worldwide."
Isango! will continue to be managed by its existing management team, led by co-founder and CEO Ranjan Singh.
"This is a pivotal time for isango! Becoming part of TUI Travel is the icing on the cake and caps a strong period of growth for our business," he said.
"By combining the strengths of the two businesses, we can create a formidable player in this very exciting sector of the travel. We are excited to be sharing our consumer insights and leading edge technologies with the major player in this market."
