SAN FRANCISCO — Mondee Inc., a pioneer in travel technology and a leading airfare wholesaler, has completed the acquisition of Cosmopolitan Travel Service (CTS).
This acquisition, says Mondee, will help the company drive continued growth via its next-generation TripPro technology platform, which has over 45,000 registered agents globally and processes over 50 million daily searches and multi-billion dollars of annual transactional volume.
To date, Mondee has invested over $100 million in the platform. It will continue to invest in its transformational technology including NDC, NGS, Branded Fares, advanced conversational commerce and AI/ML platforms.
On what the acquisition means to both companies, Michalis Tsakos, CEO of CTS, said: “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. 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.”
Prasad Gundumogula, CEO of Mondee, added: “We are proud to acquire a globally recognized travel company led by industry veterans whom I admire and respect. The travel industry is deprived of new technology and innovation, as a result customers are underserved an suppliers left with inefficient distribution.
“Our TripPro platform brings transformational technology that delivers new distribution capabilities to our partners and provides travellers 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.”