Yanolja Cloud acquires B2B travel solution provider GGT

[YANOLJA,GGT]

Yanolja Cloud will fully acquire Go Global Travel (GGT), a global business-to-business (B2B) travel solutions provider based in Israel.

Yanolja Cloud, a subsidiary of Yanolja, is a cloud-based hospitality solution provider offering B2B operation solutions.

The company did not disclose the price but revealed that it is “the largest-scale acquisition ever made” by Yanolja Cloud.

GGT possesses an inventory of over 1 million travel-related promotions from its B2B clients, ranging from airline tickets, hotel and resort bookings and car rental services. It also possesses licenses for hotel bookings from over 10,000 travel-related platforms and agencies.

Through the acquisition, Yanolja Cloud aims to strengthen its global network of travel-related clients, to provide licenses for travel sellers worldwide to sell its inventories on its platforms. The company also aims to promote domestic clients’ tourism services to foreigners visiting Korea.

“We’ve formed a powerful global network to attract global inbound tourists to Korea through the acquisition, and hope to become a global hub to promote K-travel content,” said Yanolja Cloud’s co-CEO Kim Jong-yoon. “We plan to provide a global environment in which all of our customers can enjoy their travels more conveniently through distributing travel content worldwide.”

Last month, Yanolja Cloud acquired U.S. hospitality solutions company Innsoft for $8.3 million to expand its solutions business to the North American market.

The company has partnerships with other global traveling platforms Agoda and Amadeus and is expanding its business globally with the acquisition of GGT and Insoft.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]