Tue, 06 Jul 2021 | BUSINESS SALE
Corporate travel management firm TravelPerk has announced the acquisition of UK-based business travel provider Click Travel. TravelPerk says the acquisition of the Birmingham-based business brings in over 2,000 clients, largely small and medium firms, and more than £300 million in annual business.
The acquisition is TravelPerk’s third overall and first since a $160 million (£115.5 million) funding round closed in April. The firm’s previous acquisitions were travel risk management firm Albatross last year (a strategic takeover in response to the impact of the COVID-19 pandemic) and US company NexTravel in January of this year, as TravelPerk sought to expand its US presence.
While the deal value of the Click Travel takeover was not disclosed, TravelPerk said that the acquisition is its largest to date. Following its funding round in April, TravelPerk has said it will be using the funds raised to target strategic acquisitions as it looks to take advantage of a post-COVID-19 rebound in the corporate travel sector.
Following the acquisition, Click Travel’s will initially operate independently under the ownership of TravelPerk, with its clients eventually being migrated to TravelPerk’s platform in a gradual process. TravelPerk will also take on all of Click Travel’s 150 Birmingham-based staff.
Announcing the acquisition, TravelPerk’s CEO and co-founder Avi Meir said: “With internal travel restrictions easing up first, domestic travel is the first to bounce back. Business travellers can go back to interacting with their colleagues, clients, or partners in person, at long last.”
“With this acquisition, we are making that even easier by combining Click Travel’s UK domestic travel expertise and our savviness with international business travel. With a focus on technology and a drive to understand our customers’ needs, we are creating an unbeatable, one-of-a-kind solution for companies in the UK and beyond—the only future-ready business travel platform out there.”
Read more about how business and leisure travel firms are targeting a post-pandemic recovery with M&A activity.
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