TBO Tek Ltd.TBOTEK₹1,591.00 +15.08%

TBO Tek Ltd. , a global travel distribution platform headquartered in Gurugram, India, has announced an agreement to acquire U.S.-based Classic Vacations from The Najafi Companies for up to $125 million. The move marks TBO’s entry into the North American luxury travel market and strengthens its position in the premium outbound travel segment worldwide.

Classic Vacations, a well-established player in U.S. luxury travel for nearly five decades, reported revenue of $111 million and operating EBITDA of $11.2 million in 2024. With a network of over 10,000 travel advisors and strong supplier relationships, the company has built significant brand recognition in high-value travel services.

Under the agreement, Classic Vacations will continue to operate as an independent brand while benefiting from TBO’s global technology platform and distribution network. This combination is expected to enhance offerings for travel advisors and expand Classic Vacations’ presence beyond the U.S.

The acquisition reflects TBO’s broader strategy to grow both organically and through acquisitions. By integrating Classic Vacations, TBO aims to accelerate its reach in the global luxury travel sector, with demand projected to rise significantly over the coming decade.

Classic Vacations was previously acquired by The Najafi Companies in 2021 from Expedia Group. Moelis & Company LLC acted as financial adviser and Ballard Spahr LLP as legal adviser to Classic Vacations. Cooley LLP and PwC advised TBO.

Post the announcement, the shares of TBO Tek surged over 15%, reaching an intraday high of ₹1,608.00 apiece.

About TBO Tek

TBO Tek, one of the world’s largest travel distribution platforms, reported a resilient performance in Q1 FY26 despite significant macro headwinds across India, the Middle East, and Europe. Revenue rose 22% year-on-year to ₹511 crore, while gross profit increased 19% to ₹333 crore. The company recorded its highest-ever monthly transacting buyers at 29,570, with strong growth in international markets. Profit after tax stood at ₹63 crore, up 3% year-on-year.

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Note: The stock price mentioned is as of 3:30 pm.

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Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA.

CIN: U65990KA2021PTC146954.