TBO acquires distribution platform Jumbonline for €25M

Tek Travels DMCC, a wholly owned subsidiary of travel distribution platform TBO Tek Limited, has acquired Jumbonline, the online distribution subsidiary of Spain-based Jumbo Tours Group for €25 million.

The destination management business of Jumbo Tours Group will remain part of Alpitour World, one of Europe’s largest tourism companies.

Jumbonline distributes a range of products for wholesalers and tour operators through an application programming interface (API) solution that gives access to more than 120,000 hotels across Europe, the Caribbean and North Africa.

“This acquisition will give us not only access to Jumbo’s clientele but quality content from across prime destinations in Europe right down to the Caribbean," said Gaurav Bhatnagar, co-founder and director of TBO. "We continue to expand our global footprint by staying true to our commitment to simplifying global travel.”

In a post on LinkedIn, Bhatnagar said Mustafa Korkmaz and Anurag Aggarwal will lead Jumbonline as CEO and chief financial officer, respectively.

“We are very excited with this partnership and look forward to leveraging TBO’s strengths in travel distribution across the world, specifically Middle East and [the Asia-Pacific region],” said Ginés Martinez, CEO of Jumbo Tours Group.

“Their tech, talent and growth have been very impressive, and we are happy to be a part of the TBO family.”

And said Gabriele Burgio, president and CEO of Alpitour World, “We strongly believe that there is a big potential in this alliance. TBO is a great partner in technology and highly specialized in the online business, while Jumbo Tours Group is a great provider of operations, contracting, local knowledge and representation in the destinations. We are sure both parties will get the most out of this joint project.” 

Founded in 2006, TBO connects travel suppliers such as hotels, airline, car rental companies and more with buyers such as travel agents and tour operators. 

In October, global investment company General Atlantic acquired a minority stake in TBO. In early 2023, TBO acquired B2B accommodation provider Bookabed.