TBO Tek Shares Today: TBO Tek to acquire Classic Vacations for $125 million; stock jumps 12%

TBO Tek Ltd Shares Today: Gurugram-based travel marketplace services provider TBO Tek Ltd. has announced that it will acquire US-based Classic Vacations from Phoenix-headquartered investment firm The Najafi Companies, in a deal valued at up to $125 million.

The company disclosed the agreement in a regulatory filing on Wednesday, September 3. Following the news, TBO Tek shares surged as much as 12 per cent, hitting Rs 1,550 on the NSE.

Strategic Entry into Premium Outbound Travel

TBO Tek said the acquisition will combine its technology platform and global inventory with Classic Vacations’ stronghold in the luxury B2B travel space. Founded nearly five decades ago, Classic Vacations is known for its curated portfolio and trusted network of high-end travel advisors and suppliers.

“TBO’s expansion into serving the premium outbound travel market aligns strategically with Classic Vacation’s exclusive B2B brand and elite, high-value advisor network,” the company said in a statement.

TBO Tek Ltd Financials and Deal Timeline

Classic Vacations posted revenue of $111 million and operating EBITDA of $11.2 million for the financial year ended December 31, 2024.

The acquisition is expected to close by the first week of October 2025, subject to the completion of customary conditions precedent. 

Additionally, Tek Travels DMCC will provide a letter of comfort and corporate guarantee to help TBO LLC secure $70 million in credit facilities from Standard Chartered Bank.

TBO Tek Stock Performance

TBO Tek shares had declined 22 per cent year-to-date and were down nearly 31 per cent from their 52-week high of Rs 2,001.