Online Travel Agency Musafir Hires Advisors to Raise $50 Million for Acquisitions
Photo Credit: Pictured is the Al Majaz area, Sharjah, UAE. Source: Naveed Anjum/Unsplash Unsplash / Naveed Anjum
Skift Take
The Sharjah-headquartered online travel agency has big ambitions in the corporate travel space, but so too do other players in these regions.
Online travel agency Musafir is on the lookout for acquisitions to fuel growth across the Middle East and India.
The agency, which is headquartered in Sharjah, United Arab Emirates, has appointed Cambon Partners, a mergers and acquisitions advisor, to help it raise $50 million to fund any takeovers, with a focus on business travel, Skift has learned.
Cambon Partners recently advised on the sale of Spain-based Travel Compositor to Travelsoft.
Musafir would use any cash to "start consolidating the market through acquisitions of legacy players," according to Morgann Lesne, a partner at Cambon. "It’s growing very quickly," he said, with targets already under discussion.
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