US corporate and business travel firm TripActions will expand its reach in Europe with the acquisition of venerable UK-based TMC Reed & Mackay.
TripActions confirmed the deal on Wednesday (5 May); no price has yet been disclosed, but the US firm said the acquisition and its accelerated growth plans came off the back of a recent US $155 million cash injection.
Reed & Mackay was founded nearly 60 years ago and now operates in more than 50 markets around the world, offering corporate travel and spend management solutions for a wide range of partners.
TripActions said Reed & Mackay would retain its premium brand and experienced employee base, and continue to offer a "high-touch tailored service", with the backing of the US firm’s technology platforms.
“Reed & Mackay has long led the corporate travel industry as a premium service for the most discerning clients with custom needs,” said Ariel Cohen, co-founder and chief executive of TripActions.
"Its first-class service and product, paired with the technology and culture of innovation at TripActions, will create a new breed of travel management that is able to cater to the every need of companies of all sizes in every geographic location."