Skift Take
Buying Germany's Comtravo last month also meant taking on that agency's own ongoing acquisitions, including plans to buy Sweden's Resia. That deal's now gone through, and TripActions gains a shortcut to Scandinavia.
When TripActions bought Microsoft-backed corporate travel agency Comtravo for a reported $60 million last month, it inherited several of its ongoing acquisitions. The first to come to light is Swedish corporate travel agency Resia.
The Gothenburg-based company was in the process of being sold to Comtravo as part of its "inorganic growth strategy" — a quality TripActions found attractive, according to an internal document seen by Skift.
"When TripActions closed the acquisition of Comtravo, several other acquisitions that Comtravo had in flight were still ongoing," a staff memo said. "The Resia acquisition is one of those deals. Given Comtravo's inorganic growth strategy, it's safe to assume that there will be more."
Comtravo raised $23.4 million in venture investment in November 2019, just before the pandemic hit.
Transaction terms of the deal were not di
