Indian travel technology company TBO Tek Ltd said on Friday that its wholly owned step-down subsidiary, TBO LLC, has completed the acquisition of Classic Vacations LLC, a U.S.-based luxury travel firm, from investment company The Najafi Companies, for a total consideration of $125 million, including closing adjustments.
The transaction, executed under a securities purchase agreement, marks a major milestone in TBO Tek’s inorganic growth strategy and expands its presence in the U.S. luxury travel market. Following the completion, Classic Vacations has become a wholly owned subsidiary of TBO LLC and a material step-down subsidiary of TBO Tek.
The total consideration includes a closing payment of $110.36 million and closing adjustments worth $14.64 million, funded through a mix of inter-corporate loans to Tek Travels DMCC, internal accruals, and credit facilities backed by corporate guarantees, the company said in a regulatory filing.
TBO Tek said the acquisition will strengthen its global footprint by leveraging Classic Vacations’ network of high-value travel advisors, partnerships with leading travel consortia, and premium supply chain relationships. The move aligns with TBO’s goal of positioning itself as one of the world’s leading travel-tech platforms.
“This acquisition enhances our access to the U.S. luxury travel ecosystem and underscores our commitment to expanding TBO’s reach in high-value markets,” the company said.
The details of the acquisition and funding arrangements were earlier disclosed in the company’s prior intimation to exchanges dated September 2, 2025, under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR).
TBO Tek, headquartered in Gurugram, operates a global B2B travel distribution platform that connects travel buyers with suppliers across air, hotel, and holiday segments.
