Airfare wholesaler Mondee Inc. has completed its acquisition of consolidator Cosmopolitan Travel Service (CTS), a U.S.-based consolidator which opened a Canadian office in early 2018.
According to Mondee – a Silicon Valley-based company which owns several consolidators including SkyLink Canada – the purchase “strategically positions Mondee to drive continued explosive growth via its next generation TripPro technology platform by expanding its distribution capabilities and delivering unparalleled value to its suppliers, customers and partners.”
“We are proud to acquire a globally-recognized travel company led by industry veterans whom I admire and respect,” said Prasad Gundumogula, CEO of Mondee. “Our TripPro platform brings transformational technology that delivers new distribution capabilities to our partners and provides travelers with a new world of travel experiences. This acquisition accelerates the delivery of our revolutionary platform to an even larger base. We share this common vision, and each company brings unique strengths and expertise to accomplish our goals.”
“The combination of CTS’ experienced management and agency network with Mondee’s next generation technology platform TripPro, will allow us to accelerate growth and deliver exceptional value to our partners and customers,” said Michalis Tsakos, CEO of CTS. “In addition, with our combined strengths, we will be able to expand our distribution to a new generation of travel agents and penetrate micro-markets and special niches that are historically hard to serve.”
With over $100 million invested in its core technology platform, Mondee’s TripPro currently has more than 45,000 agents registered globally, processing over 50 million daily searches and billions of dollars in annual transactional volume.
Mondee will continue to invest in and enhance the TripPro transformational technology including NDC, NGS, branded fares, advanced conversational commerce and AI/ML platforms to serve a new generation of connected travelers with an unparalleled travel experience, while concurrently providing reliable distribution channel to suppliers.
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