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.”