Yatra to acquire ATB to strengthen corporate travel biz
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Online travel company Yatra has acquired corporate travel service provider company Air Travel Bureau (ATB) for an undisclosed amount. According to the release issued by Yatra, ATB is India’s ‘largest corporate travel services provider’ with gross bookings of Rs 1,500 crore and a client base of 400 companies in the country.
"This acquisition significantly strengthens our position in the large and growing corporate travel market in India. We believe that as a combined entity, we are now the largest corporate travel services platform in India by Gross Bookings,” said Dhruv Shringi, Co-Founder and Chief Executive Officer, Yatra Online.
This acquisition will allow us to deliver best-in-class experiences to an even wider set of travelers, through our web and mobile app platforms and enhance our reach to cross-sell our entire product suite, including hotels, to this customer base,” Shringi said.
Yatra has agreed to acquire all of the outstanding shares of ATB and assume its debt.