TBO Tek To Acquire Classic Vacations, Stock Surges 15%

TBO Tek, through its step-down subsidiary TBO LLC, is acquiring Classic Vacations, while the parent has approved a loan of up to INR 350 Cr to Tek Travels DMCC to support the funding of the deal

TBO Tek has been on an expansion spree for some time now, setting up subsidiaries in countries like Poland, Canary Island, Indonesia, Greece, Australia, among others

Post the acquisition, Classic Vacations will continue to operate as an independent brand while leveraging TBO’s technology…