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Air Travel Bureau (ATB) is acquired by Yatra.com
25th, July 2017 - News
Yatra, Gurugram-headquartered company acquired Corporate travel service provider Air Travel Bureau (ATB) for an undisclosed amount.
The deal, which has already received the approval of the Board of Directors of both companies, will take place through Yatra Online, Inc.’s subsidiary Yatra Online Pvt Ltd.
As part of the deal, Yatra will be taking over all of ATB’s outstanding shares and debt. The first part of the transaction will be closed by mid-August 2017. The second phase will reportedly be concluded by second quarter of 2018.
A partner in the UNIGLOBE network, Air Travel Bureau (ATB) is a corporate travel service provider established in 1962. It currently operates in operates in eight locations in India, including New Delhi, Bengaluru, Chennai, Gurugram, Hyderabad, Kolkata, Mumbai, and Pune. It claims to have a workforce of more than 700 employees, and a client base consisting of 400 large and medium-sized businesses.
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