Australia-based Corporate Travel Management has completed its purchase of the Australian and New Zealand corporate and entertainment businesses of its rival Helloworld for AUS$175 million (US$124.9 million).
CTM¡¯s deal to buy Helloworld Corporate was first announced in December and is the travel management company¡¯s third acquisition in the past two years, including the purchase of UK-based Travel and Transport.
Greg McCarthy, CTM¡¯s Australia and New Zealand CEO, said: ¡°Our priority is to look after Helloworld¡¯s corporate and entertainment customers and employees. We will make their migration into the CTM business a seamless experience.
¡°Having the financial strength and operational discipline to weather the pandemic has allowed CTM to execute strategic acquisitions, continue to invest in our proprietary travel technology, and maintain our award-winning service levels.¡±