Leading Indian online travel firm Yatra is making a big push in the corporate travel segment with an agreement to buy Air Travel Bureau Ltd.
ATB is India’s largest independent corporate travel business with a customer base of about 400 large and medium sized businesses across the country.
Yatra will acquire all shares and assume ATB’s debt with the deal fully closing by the second quarter of 2018.
Neither the debt amount nor the purchase price was disclosed.
"This acquisition significantly strengthens our position in the large and growing corporate travel market in India," said Yatra co-founder and CEO Dhruv Shringi.
He said the combined entity will be ‘the largest corporate travel services platform in India by gross bookings.’
"We’re excited for ATB to join the Yatra family and for our teams to work together to further enhance the offerings we provide to our customers and partners," said ATB chairman and CEO Sunil Narain.
