While financial details of the deal remain undisclosed, the acquisition of the 35th largest TMC in Europe was a strategic decision for Talma. The two companies, that have been partners for the last 6 years, will fuse in order to combine corporate and leisure travel agencies.
Nevertheless, the UK-based Norad will keep its key employees, such as the financial director, operations director and chairman. The desired goal of the deal is to boost international expansion for Talma.
Norad’s chairman, Mick Gibbs, explained:
“We have got to know the Talma team well and believe in their ambitions to build a global travel entity.
“I am particularly happy to see the talent and technology from both organisations come together to create a world-class travel business, which will deliver great service to clients, suppliers, and partners alike.”
Iya Magen, Talma’s CEO, also commented:
“We are excited by the acquisition of Norad Travel and welcome the team to Talma.
“The two businesses have got to know each other over recent years, and our shared values and operating culture ensure a complementary fit. In addition, the technology roadmaps of each business provide a powerful platform from which we will drive future innovation and deliver increased client satisfaction.”
Talma Travel and Tourism was established in 1987 and rebranded as Talma Shlomo Travel Solutions in 2022. The company has over 200 employees and more than 3.000 clients across the globe.
Source: businesstravelnewseurope.com
