Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,921.50-96.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

Thomas Cook India to acquire 24% stake in TravelJunkie Solutions

Thomas Cook India Group Chairman Madhavan Menon said the partnership with Ithaka creates a new channel that reaches and serves millennials.

PTI|
Oct 05, 2018, 07.35 PM IST
0Comments
BCCL
cook

Shares of Thomas Cook India today closed at Rs 205.20 per scrip on BSE, down 3.98 per cent from its previous close.

NEW DELHI: Travel services firm Thomas Cook India Friday said its board has given nod for the acquisition of a 24 per cent stake in Mumbai-based travel tech start-up 'TravelJunkie Solutions' by its arm TC Tours Ltd. The board of the company has approved the acquisition of a 24 per cent strategic stake in TravelJunkie Solutions Pvt Ltd, via its wholly owned subsidiary TC Tours Ltd, Thomas Cook India said in a filing to the BSE.

The company, however, did not provide any financial details about the stake acquisition.

TravelJunkie Solutions has developed Ithaka, a chat-based mobile application, serving individual travellers by recommending authentic local experiences for different destinations and helping plan their trip and book activities, hotels and flights, it added.

Commenting on the development, Thomas Cook India Group Chairman Madhavan Menon said: "We are very excited with this strategic investment that also marks our first investment in the exciting travel tech space."

For Thomas Cook, the partnership with Ithaka creates a new channel that reaches and serves millennials, while for Ithaka, the partnership delivers an end-to-end, bookable experience, he added.

"The business model also resonates perfectly with the hybrid technology plus personalisation approach of the Thomas Cook Group in our constant endeavour to innovate and deliver a seamless customer experience to new age travellers," Menon said.

Shares of Thomas Cook India today closed at Rs 205.20 per scrip on BSE, down 3.98 per cent from its previous close.

Also Read

Thomas Cook India Group acquires 24% stake in TravelJunkie Solutions

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service