India, Oct. 2 -- Update | October 2, 12:56 IST

A month after it signed a deal to acquire Classic Vacations, listed travel tech platform TBO Tek completed the acquisition of the US-based luxury travel wholesaler from investment firm The Najafi Companies.

In a statement, TBO Tek said that the deal was pegged at $125 Mn, including closing adjustments. Effective October 1, Classic Vacations will operate as a material step-down subsidiary of the company.

The company said that there will be no leadership changes and Classic Vacations will operate as an independent brand. CEO Melissa Krueger will continue to helm the affairs of the new subsidiary.

"By creating greater scale and reach, the combined platform is well positioned to harness the n...