Corporate Travel Management, which is listed on the Australian stock market, will acquire London-based Chambers from January 1 as an “anchor point” to expand into Europe.

Chambers’ chief executive Chris Thelen and all senior management will remain in their current positions as will all 214 of Chambers current staff.

Thelen said: “Our aspiration is to grow Chambers into a much larger European business and we believe that by joining forces with CTM and becoming their new European regional headquarters, we will be able to accelerate that aspiration.

“There is a huge opportunity to benefit from each other’s strengths, significantly enhancing our service offering to clients, while providing exciting new career opportunities for our employees.”

Chambers, which has operations in seven European countries, will continue to trade under its current name with “no name change is planned for the foreseeable future”.

CTM managing director Jamie Pherous added: “We are delighted to have Chambers Travel Group become our anchor point in the UK and Europe to lead our future growth in this region.

“This partnership culminates a decade of successfully working together, allowing a seamless transition for our respective management teams.”

CTM has been acquiring other business travel agencies around the world in recent years including R&A Travel, Travelcorp, USTravel and Avia International Travel in the US, plus Westminster Travel in Asia.