Talma Travel Solutions is in discussions for acquisitions in the UK, Canada and US, and is eyeing potential purchases in Singapore.
CEO Iya Magen told The Business Travel Magazine the Canada and latest UK deals are close to being finalised. She said the UK TMC was a significant player in the market but refused to disclose further details.
Talma has already purchased Norad Travel Group and Blue Cube Travel in the UK as part of its European expansion.
“We’re also courting another one in Europe,” she said. “We have partners in Europe but we want to have our own team on the ground. Ideally we’re looking for a regional TMC with branches in France, Germany and all the key Western European countries.”
Discussions are already underway for a potential US deal, which is likely to take another four to five months, she added.
“The market these days is quite challenging,” said Magen. “One day it seems that buyers are the ones who define what’s next. The next day, it seems that there are more buyers than sellers.”
She said TMCs looking to sell regard Talma as a strong proposition because of the technology it can bring to the table.
In October, it will launch its global proprietary agent desktop, Voya, in the UK. Voya allows Talma’s teams to access content from multiple sources, including GDS and NDC content, through a single interface and removes the inefficiencies of switching between disconnected systems.
“The majority of our deals are built on future results and in our talks with potential targets for acquisition, people are asking, ‘Okay, so what do you think will be different after we sell to you?’. When they hear that this is the solution we are building, they get very excited because this is exactly the kind of thing they want to be taken away by someone else,” explained Magen.
She said the platform is already being tested by Talma agents and is bringing double digit savings for clients.
“There are a lot of tools out there, but my version of what’s going to happen at the end is that you’ll have those who are using specific online tools and some who stick with a good old offline business. At the end, it will be the same, because nobody will keep just calling. For corporate travel, you will most probably be communicating through WhatsApp or texting, and however you are communicating, what will be more relevant is the engine behind the scenes. The gamechanger will be who brings better content, who optimises better, and who responds quicker, whether that’s online or offline.”
