Last year in April, Tek Travels had acquired a 51 percent stake in BookaBed.
Headquartered in Switzerland’s Zug, Bookabed is said to be one of the largest online business-to-business booking engine in Ireland.
With this acquisition, TBO further deepens its European footprint into Ireland and UK, the company said in a statement.
BookABed now becomes TBO Ireland & UK and Karl Tyrell, the CEO of BookaBed, will continue in his role.
Over the course of the year, the breadth and depth of BookaBed will be fully integrated into the TBO platform which today lists over one million properties worldwide, a statement read.
BookaBed had said last year that it would increase its market share in Ireland and the UK by leveraging TBO’s global application programming interfaces (API) business, and TBO Academy that trains and educates travel agents and travel trade partners.
“Since integrating with TBO, we’ve had greater ability to engage the Irish and UK markets stronger and deliver increased value to our customers. We will continue to service our customers and will advise our customers on how the new brand will roll out over the coming months,” Tyrell said.
TBO said the development reflects the aggressive growth plans it has set globally. The company said it would continue to step up investments and look at partnerships to expand, hire and improve customer experience in an effort to simplify and empower the travel ecosystem.
In 2021, TBO had submitted draft papers with the Indian market regulator to raise $253 million through an initial public offering (IPO) of shares and has received the go ahead to raise funds.
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