Montreal-based Busbud,
which provides price comparison and ticketing for bus and train trips in more
than 80 countries as well as B2B software for ground travel operators, has
acquired Brazil-based Buson.
Financial terms of the
acquisition are not being disclosed, but a Busbud spokesperson said this is the
company’s “largest [mergers and acquisitions] transaction to date.” In early 2022, Busbud acquired
Chile-based
Recorrido and later that year it merged with Toronto-based
Betterez.
As part of the
acquisition, Brazil-based venture capital firm Kaszek, an investor in Buson’s Series A, will become a shareholder
in Busbud along with Buson co-founder and CEO Thiago Carvalho and other Buson
shareholders.
Buson is one of the
largest online platforms for bus ticket booking in Brazil, offering more than
70,000 routes from more than 300 bus operators. Similar to Busbud, the company
also offers B2B solutions for operators to help them enhance sales and
operational efficiency.
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Busbud said Brazil is the
third-largest bus market globally, and bus transportation makes up more than
59% of leisure and tourism travel.
This acquisition,
combined with its prior ones, gives Busbud partnerships with more than 600
operators in Latin America and approximately 225 team members worldwide.
“We're thrilled to
welcome Buson to the Busbud group,” said LP Maurice, CEO and co-founder of
Busbud.
“We've followed Buson's
story since its founding in 2013 as Guiche Virtual and have been impressed with
the inventiveness and resilience of the team and its CEO and co-founder Thiago.
We share the same ambition to revolutionize ground travel through innovation, and we have well-aligned product suites that aid the digital transformation of
ground travel across the Americas and globally. Together, we will continue to
craft transportation experiences that meet the needs of the modern traveler, as
well as our trusted operator partners.”
Buson’s Carvalho and the
company’s 64 employees will remain, as will the Buson brand.