Corporate Travel
Management has acquired Boston-based Travizon Travel
for $21 million. CTM was #14 on Travel Weekly's 2015 Power List, and Travizon was No. 25.
The acquisition, CTM said, will make it one of the 10 largest
travel management companies in the United States, as well as build its position
on the East Coast.
CTM managing director
Jamie Pherous said that
Travizon and CTM have worked together for years, and also operate the same
reservation system.
With the Travizon acquisition, CTM is operating in 20 U.S. cities, just four years after the Australian company
first entered the U.S. market.
The acquisition is
targeted to take effect on July 1. It will be funded 50/50 with stock and
cash.
CTM acquired
No. 39 Montrose Travel in California in December. CTM entered the
U.S. market in 2012 by acquiring R&A Travel. In May 2013, it acquired
Travelcorp, and in 2014 it acquired USTravel and Avia International Travel,
further expanding its U.S. presence.
CTM was founded in 1994
and started acquiring Australian companies in 1999, followed by a variety of
international acquisitions — including the U.S.-based companies — in 2010.