1 April 2022
CTM cements Australian market leadership with completion of Helloworld Corporate acquisition
Corporate Travel Management (CTM) has today completed the acquisition of Helloworld Corporate, cementing its position as the largest provider of corporate travel programs to Australia’s government and university sectors and more than a quarter of ASX200 companies.
With the $175 million1 transaction now complete, the integration of Helloworld’s corporate and entertainment brands – including QBT, TravelEdge, APX, Atlas Travel, AOT Hotels and Show Group – will commence. CTM’s immediate focus will be on welcoming customers and employees, establishing customer engagement plans, and optimising travel policies through CTM’s scale, service and technology.
CTM Australia / New Zealand CEO, Greg McCarthy said, “Our priority is to look after Helloworld’s corporate and entertainment customers and employees. We will make their migration into the CTM business a seamless experience.”
This acquisition is CTM’s third since the start of the pandemic in early 2020, following the acquisition of major US and UK/Europe travel management provider Travel & Transport (inclusive of the Radius Travel global agency network) and travel technology company Tramada Holdings in October 2020. The acquisition of Helloworld’s corporate and entertainment business extends CTM’s significant customer portfolio in the government and education sectors and expands its reach into new vertical markets such as the entertainment, film, music and arts industries.
Mr McCarthy said, “Having the financial strength and operational discipline to weather the pandemic has allowed CTM to execute strategic acquisitions, continue to invest in our proprietary travel technology, and maintain our award-winning service levels. These efforts are adding real value for our customers. We look forward to welcoming Helloworld’s corporate and entertainment customers and employees to the CTM Group and believe they will feel the benefits of CTM’s value proposition immediately.”
1 Enterprise value on a cash free, debt free basis
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