Global Expansion Push: TBO Tek Sets Up New Subsidiary In Canary Island

Global Expansion Push: TBO Tek Sets Up New Subsidiary In Canary Island

SUMMARY

TBO Tek has incorporated a new wholly owned subsidiary in Canary Island by the name TBO Jumbonline Canarias to expand its footprint in the region

The subsidiary will be operated by Jumboline Accomodations & Services, a Spanish tourism company acquired by TBO Tek in December 2023 for INR 219.6 Cr

In a recent investor presentation, TBO Tek said that with more people travelling outside of the country, assisted travel is set to emerge as a large opportunity

Recently listed B2B travel portal TBO Tek has incorporated a new wholly owned subsidiary in Canary Island by the name TBO Jumbonline Canarias to expand its footprint in the region.

In an exchange filing, TBO Tek said that the new entity, TBO Jumbonline Canarias, S.L.U, will act as a travel agency. The subsidiary will be operated by Jumboline Accomodations & Services, a Spanish tourism company acquired by TBO Tek in December 2023 for INR 219.6 Cr. The acquisition was aimed at expanding its operations in Europe. 

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