Wings Travel Management has entered into an agreement to acquire a 70 per cent stake in Singapore-based Olympia Travels & Tours for an undisclosed sum. The company says the purchase allows it to expand its presence in the Asia Pacific region.
The acquisition is expected to be completed by January 1 2018, however Wings says the agreement puts it in a better position to serve its customers in the region with immediate effect.
Olympia Travels is a medium-sized corporate travel company providing service to both local and international clients primarily in the energy, marine and corporate sectors. It currently has 30 employees.
The purchase coincides with the appointment of Nicole Liang to the newly created role of vice president of Asia Pacific for Wings, based in Singapore. Liang joins Wings from FCM Travel Solutions, where she was director of operations for South East Asia. She has also held senior roles at Corporate Travel Singapore, CWT Singapore and Instone International.
Tony Sofianos, CEO of Wings Travel Management, said: “We have been looking to expand our operations to encompass the Asia Pacific region and this acquisition strengthens our footprint in this region significantly. It also gives us the operational platform to provide complete travel and support services to clients across the whole region through a hub and spoke model.”