Mumbai, October 3 (Udaipur Kiran News): Shares of TBO Tek gained over 1.3% on Thursday after the company announced that its wholly owned step-down subsidiary, TBO LLC, has successfully completed the 100% acquisition of Classic Vacations, LLC.
The acquisition, valued at $125 million, includes a closing consideration of $110.36 million and closing adjustments worth $14.64 million. The deal was financed through a combination of inter-corporate loans, internal accruals, and credit facilities backed by corporate guarantees.
Following the transaction, Classic Vacations has become a wholly owned subsidiary of TBO LLC and a material step-down subsidiary of TBO Tek.
This acquisition represents a major milestone in TBO Tek’s inorganic growth strategy, significantly enhancing its footprint in the US luxury travel segment. Classic Vacations brings with it a strong network of high-value travel advisors, partnerships with leading consortia, and access to premium travel suppliers — positioning TBO Tek for stronger global expansion.
On the BSE, TBO Tek’s stock was trading at ₹1,542.70, up ₹20.80 or 1.37% from the previous close of ₹1,521.90. The stock opened at ₹1,580.60 and touched an intraday high and low of ₹1,580.60 and ₹1,531.35. The company’s market capitalization stands at ₹16,751.84 crore.
Promoters hold 44.41%, while institutions and non-institutional investors own 49.30% and 6.30%, respectively.
TBO Tek is a global travel distribution platform providing customized travel inventory and support for multiple currencies and forex services.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.