Japanese online travel agency Adventure, Inc. has acquired
Singapore-based travel management company Silkway Travel Asia, the companies
announced.
The acquisition gives Silkway, which serves both corporate
and leisure clients, access to Adventure’s Skyticket air booking platform,
which enables customers to search, book and pay for flights via Google. The new
tool will “increase productivity and offer a faster turnaround service to
our valued clients,” Silkway director and co-founder James Tang said in a
statement.
“Silkway Travel Asia will continue to expand its
portfolio of multinational corporation and small and medium enterprise
clientele providing extensive and comprehensive corporate travel management
products and services,” he added.
Adventure, meanwhile, will continue its expansion into
Southeast Asia with the acquisition, according to the companies. Adventure has
an annual turnover of ¥20 billion ($129.6 million) and has subsidiaries and
affiliates in South Korea, the Philippines, India and Bangladesh in addition to
its Tokyo headquarters.
Financial details were not disclosed in the acquisition
announcement. Silkway’s Singapore operations—including its name, products and
management team—will not change as a result of the acquisition, and Tang and
Albert Hong will continue to serve as its directors.
