Overview

• TBO Tek said it agreed to buy U.S.-based Classic Vacations from The Najafi Companies for up to $125 million.
• The company stated Classic will continue as an independent brand using TBO’s technology and distribution to scale operations.
• Classic reported 2024 revenue of $111 million and operating EBITDA of $11.2 million, and it works with more than 10,000 travel advisors.
• TBO Tek shares rose as much as 13 percent in early trade to an intraday high of Rs 1,597 following the announcement.
• Moelis & Company and Ballard Spahr advised Classic, while Cooley LLP and PwC advised TBO on the transaction.