TBO Tek Shares Soar 15% on Acquisition of Classic Vacations for $125 Million

TBO TO ACQUIRE CLASSIC VACATIONS FROM THE NAJAFI COMPANIES TO EXPAND ITS GLOBAL REACH INTO NORTH AMERICA

/PRNewswire/ -- TBO (NSE: TBO TEK), based in Gurugram, India, announced its agreement to acquire US based Classic Vacations from Phoenix-based investment firm,...

TBO Tek shares soar 15% on acquisition of Classic Vacations for $125 million

TBO Tek's shares rose 15% after announcing the acquisition of Classic Vacations for up to $125 million, enhancing its presence in the luxury travel market by combining technology and networks.

TBO acquires Classic Vacations to expand global reach - TravelBiz Monitor: India travel news, travel trends, tourism

TBO has officially announced its agreement to acquire Classic Vacations, a U.S.-based luxury travel wholesaler, from Phoenix-headquartered Najafi Companies. The deal is valued at up to USD 125 million (INR 1,100 crore) and marks a major milestone in TBO’s expansion strategy. This acquisition combines TBO’s advanced technology-driven platform with Classic Vacations’ robust network of luxury travel advisors and suppliers. Classic Vacations generat…

Scottsdale Travel Agency to be Acquired in $125M Deal - Greater Phoenix In Business Magazine

TBO, based in Gurugram, India, announced its agreement to acquire US based Classic Vacations from Phoenix-based investment firm, The Najafi Companies, for an estimated total purchase of up to $125 million. The acquisition brings together the power of TBO’s first-class technology platform and worldwide inventory with Classic Vacation’s vast network of luxury travel advisors and suppliers. Classic Vacations delivered a revenue of $111 million and …

TBO Co-Founder on $125 Million Classic Vacations Deal and Building U.S. Presence

Skift Take: Oyo’s Motel 6 buy last year, and now TBO picking up Classic Vacations, show that Indian travel companies aren’t just playing catch-up globally, they’re setting the pace and shaping the game.Read the Complete Story On Skift

TBO Tek To Acquire Classic Vacations For $125 Mn, Stock Surges 15%

Shares of TBO Tek surged as much as 15.03% to INR 1,591.55 on the BSE during the early trading today after the company announced the acquisition of US-based Classic Vacations from investment firm The Najafi Companies in a deal worth up to $125 Mn yesterday. The shares were trading 12% higher at INR 1,551.50 apiece at 11:10. The company’s market capitalisation stood at INR 16,847.40 Cr(about $1.9 Bn). Classic Vacations is a luxury travel wholesal…