Corporate Travel Management buys US rival Travel and Transport
Australia based Corporate Travel Management has made a bold move to acquire Nebraska based TMC Travel and Transport, along with the Radius Travel Network business for more than $274 million.
It will give it a formidable presence in the US market and beyond with the new merged entity generating more than $8.5 billion in sales.
It also gives it a larger foothold in the UK, Germany and France.
The Travel and Transport name will eventually disappear and be absorbed into CTM
Radius Travel comprises a network of corporate travel agencies in more than 100 countries.
"We are excited to bring our two companies together under the CTM umbrella," said CTM founder and Managing Director Jamie Pherous.
"Travel and Transport has a long history of success within the global travel industry, and we have shared views about delivering personalized service and proprietary technology to generate strong returns for clients.
T&T’s executive team will integrate with CTM and Kevin O’Malley becomes CEO of North America.
"We are excited about the opportunities for our people and our clients by becoming part of a growing travel management company," said O’Malley.
"We were very impressed with CTM’s technology, in particular the lightning online booking tool, and CTM’s strength in the Asia Pacific region.
Written by Ray Montgomery, US Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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