Having recently acquired India-based Track Holidays for over RM1 million (US$234,239) with share swaps, Malaysia-based online travel portal Travee.travel is seeking expansion through more M&A moves in the coming months.
Ankur Jakhwal, co-founder & group CEO of Travee.travel, said: “(Buying Track Holidays) is a strategic acquisition, as it gives us strong base in India to further grow Indian outbound business to other Asian markets, particularly to Malaysia, Thailand, Indonesia, Singapore and upcoming markets like Japan and South Korea.”
Track Holidays has over 40 staff across five Indian cities (Delhi, Kolkatta, Bangalore, Hyderabad & Kochi) offering B2B services in ticketing, inbound and outbound holiday packages, and MICE business, among others. It represents airlines such as AirAsia, Air Arabia and Druk Airways and is the channel partner for Expedia B2B in India.
By end-2017, Travee.travel hopes to also have a physical presence in Indonesia, the Philippines, Singapore and Nepal. “We plan to achieve this mostly through mergers and acquisitions. We will be creating a lot of ‘noise’ in the market in the coming months,” Ankur said.
Headquartered in Kuala Lumpur, Travee.travel is a travel management and travel technology company established in 2012 by Pardip Kumar Kukreja.
