February 24, 2024

TripActions buys Swedish TMC

TripActions has acquired Swedish TMC Resia AB, its third European acquisition in nine months.

It said Resia, founded in 1974 and headquartered in Gothenburg, will help spearhead further growth in the Nordics and is part of a broader plan to carefully invest and expand market share.

The deal follows the purchase of Berlin-based Comtravo just three weeks ago and the acquisition of UK-based Reed & Mackay in May last year.

“The acquisition of Resia has significantly increased our market share in Scandinavia,” says Michael Riegel, the newly-appointed General Manager of TripActions EMEA.

All Resia staff, including its management, will stay onboard under the leadership of Riegel, who was the founder and CEO of Comtravo.

More than a quarter of Resia’s corporate sales come from meetings and events (MICE), including the management of worldwide congresses. 

With the addition of Resia, TripActions has now invested more than $400 million in Europe.

“Not only does Resia expand TripActions’ reach to Scandinavia’s largest market, it also brings extensive experience and a complementary user-first approach,” says TripActions co-founder and CEO Ariel Cohen.

“With companies returning to business travel in force, it’s never been more vital for companies to have the real-time visibility that only tech-forward solutions can provide. We are thrilled to welcome Resia to the team.”

Announcing the move today, TripActions said it was seeing positive signs of recovery in the European region, with EU-origin travel bookings up 300% from the first full week of 2022, averaging 30% week-on-week growth

Meanwhile US-origin flight bookings to Europe are up 280% compared with the first full week of this year.

TripActions reported that sales and marketing teams are travelling again while operations and admins/finance have dropped in share.