Travelport Announces Acquisition Of Japan-Based, Third-Party Distributor
Travelport Worldwide Ltd (NYSE: TVPT) announced on Tuesday it has entered into an agreement to acquire a third party distributor in Japan, Galileo Japan.
Galileo Japan was previously owned by a consortium of airline owners. Travelport stated that the acquisition offers a new consolidated Travelport Japan entity in the country. In fact, the company noted that Japan represents one of the world's largest travel markets and is only smaller than the United States and China in terms of flight seats offered for sale.
Travelport added that the acquisition is part of its strategy to invest and enhance its global commerce platform.
Gordon Wilson, president and CEO for Travelport, commented, "This is a tuck in acquisition of a business we know well and have worked with for three decades. The decision to transform from a distribution franchise to a wholly owned operation is commensurate with our goals to further expand our successful business across Asia. "Japan is a major travel market and owning our operation here, whilst continuing our other successful strategic partnerships in Japan, will enhance our growth prospects in the country. We calculate that we now process nearly half of all international air bookings made by Japanese travel agencies and lead the market." Yoshinobu Aoyama, managing director at Galileo Japan, said, "We see this acquisition as a very positive move for our customers. Now, with the full backing of Travelport, we will be better placed to take advantage of the considerable opportunities that we see ahead of us in the region. The new investment in our business and team means that our travel agency customers will benefit from enhanced services and support."
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