Global provider of travel solutions Corporate Travel Management (CTM) has completed the acquisition of Safe2Travel, a Singapore-based travel TMC with more than 100 years’ history servicing the corporate market.
The acquisition strengthens CTM’s position as one of the top five TMCs in Singapore and coincides with the increasing momentum of business travel activity in the region, as Singapore reopens its borders to all vaccinated travellers.
The combined businesses will enable CTM to better support global businesses looking to establish Singapore as their regional Asian hub, while complementing CTM’s existing operations in Singapore, Hong Kong, China and Taiwan.
CTM’s immediate focus will be on welcoming Safe2Travel’s customers and employees to the CTM family and assisting customers to restart their corporate travel programmes safely and effectively.
CTM Asia CEO, Larry Lo said: “We look forward to working with our new and existing customers in the coming weeks to reactivate their travel programmes and to deliver the expert travel support and tools needed to get back to business travel with maximum impact and ROI to support economic recovery in Asia.”
This transaction is CTM’s fourth since the start of the pandemic in early 2020, following the acquisitions of major US and UK/Europe travel management provider Travel & Transport (inclusive of the Radius Travel global agency network), Australia-based travel technology company Tramada Holdings, and Helloworld Corporate in Australia and New Zealand.