To support its growth in the European business travel market, TripActions has clearly chosen to base its strategy on external growth. After acquiring the services of Reed & Mackay last May, and most recently Comtravo in Germany, TMC is tackling the northern part of the continent. Destination Sweden and the Nordic market in general, with the acquisition of Resia AB. The business travel agency, based in Gothenburgadds some 1,300 customers to TripActions' portfolio. The acquisition of Resia AB also brings to the start-up the Swedish agency's almost fifty years of expertise in the field of business travel but also MICE. TripActions points out that more than a quarter of Resia's sales volume is based on the meeting & events.
" Not only does Resia extend TripActions' reach to the largest market in the Nordic countries, it also brings a wealth of experience and a complementary user-centric approach "says Ariel Cohen, co-founder and CEO of TripActions. " With the resurgence of business travel, it has never been more vital for companies to have the real-time visibility that only leading-edge solutions can provide. We are delighted to welcome Resia to our team "adds Ariel Cohen. As for the new Managing Director of TripActions EMEA, Michael Riegel, he says: " The acquisition of Resia has significantly increased our market share in the Nordic countries. Customers will be able to take full advantage of TripActions' innovative product offering, while Resia's experienced management team will draw on its deep market expertise to drive TripActions' growth in the Nordics. ".
Although the amount of the Resia acquisition has not been disclosed, TripActions has invested a total of $400 million in Europe over the past year, including the three acquisitions, staff increases and offices in London, Amsterdam, Paris, Dublin, Berlin, Frankfurt, Munich, Tel Aviv, Gothenburg and Lisbon.
give fresh impetus to the Scandinavian market
The Swedish business travel market is clearly enthusiastic about the idea of Resia joining the fold of the American player. As Lotten Fowler, Managing Director of the Swedish Business Travel Association, points out: " It's great news to see TripActions enter the region with the acquisition of Resia. Its innovative technology and global reach, combined with theResia's excellent reputation in customer-focused service, will give new impetus to the Scandinavian market ".
Those in charge of TripActions say they have not yet set a timetable for the transition, but eventually Resia to be fully absorbed by TripActionsand its customers will be transferred to the TripActions solution. " Once the transaction is complete, the combined organisation's customer support teams will work with each individual customer to ensure a smooth transition. "says a TripActions spokesperson.
