In a strategic move, TBO Tek Ltd's wholly owned subsidiary, Tek Travels DMCC, has successfully acquired the entire shareholding (100%) of Jumbonline Accommodations & Services S.L.U for €25 million. This marks the emergence of Jumbonline as an independent online business from the renowned Jumbo Tours Group.
Jumbonline, known for its cutting-edge API solution platform, grants access to an extensive portfolio of over 120,000 hotels, with a direct contract with 15,000 of them. The platform also boasts two well-established brands, namely Jumbobeds and Jumbotransfers.
TBO Tek Limited (TBO) officially announced this acquisition as part of its strategic initiative to strengthen its footprint in Europe. Jumbo Tours Group, a major player in the international tourism sector, has been a key contributor to the travel industry, providing an array of services and products to global tourism operators and travel agencies.
The incorporation of Jumbonline into TBO's portfolio is expected to enhance the platform's offerings, with advanced API solutions facilitating rapid access to an extensive network of hotels. Jumbobeds recognised as a leading online wholesaler for travel agencies, and Jumbotransfers, offering competitively priced transport services, further enriches the scope of services.
This strategic acquisition not only reinforces TBO's market presence but also positions the company for continued growth and innovation in the dynamic travel and tourism landscape.