TripActions is continuing its spending spree with the acquisition of Swedish travel management company Resia AB, a move that comes just three weeks after it announced a deal to buy German agency Comtravo.
According to the company, the deal will see its clientbase swell to more than 8,800 companies – having previously leapt to 7,500 following the acquisition of Comtravo – and will further shift its business towards Europe, which is now understood to account for slightly more than half of its sales.
The company, which landed more than $275 million in Series F funding last October, also acquired the UK’s Reed & Mackay in May 2021.
TripActions says it has invested more than $400 million in Europe within the last year and its acquisition of Gothenburg-based Resia – profiled in BTN Europe’s Leading TMCs report – will see its presence “now span the European continent” with the addition of Scandinavian offices.
More than a quarter of Resia’s sales volume is derived from MICE business.
“The acquisition of Resia has significantly increased our market share in Scandinavia,” says Michael Riegel, the newly appointed general manager of TripActions EMEA. “Resia’s strong management team and deep market expertise will help spearhead TripActions’ further growth in the Nordics.”
TripActions reports “extremely positive” signs of business travel recovery, with EU-origin travel bookings up 300 per cent from the first full week of 2022 and average 30 per cent week-on-week growth.