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Business Travel

TravelPerk's Acquisition of a Rival Travel Agency Is Backed by This Secretive Hedge Fund

Matthew Parsons
Boston

Photo Credit: Boston’s Baupost Group has backed Spanish startup TravelPerk's acquisition of UK agency Click Travel. Unsplash / Zixi Zhou

Skift Take

It's hard to say how far TravelPerk can go buying the UK's Click Travel, as it limits expansion to a mostly domestic market. But then its new investor has a reputation for spotting opportunities earlier than most.

A U.S. hedge fund is helping fuel the ongoing wave of consolidation in the corporate travel sector, marking the second takeover of a UK agency this year. Boston’s Baupost Group has backed TravelPerk's acquisition of Click Travel, and the deal, which was announced on Tuesday, gives the Spanish startup access to 2,000 new customers, including Red Bull. But unlike another travel agency deal, TripActions’ surprise purchase of Reed & Mackay back in May, the Click Travel brand will disappear as it becomes “fully integrated” into TravelPerk. The announcement follows yet another takeover in the mix, as American Express Global Business Travel waits f

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