TBO Tek announced its agreement to acquire US based Classic Vacations from Phoenix-based investment firm, The Najafi Companies, for an estimated total purchase of up to $125 million.
The acquisition brings together the power of TBO's first-class technology platform and worldwide inventory with Classic Vacation's vast network of luxury travel advisors and suppliers. Classic Vacations delivered a revenue of $111 million and an operating EBITDA of $11.2 million in the fiscal year ended Dec. 31, 2024.
TBO's expansion into serving the premium outbound travel market aligns strategically with Classic Vacation's exclusive B2B brand and elite, high-value advisor network enhanced by its nearly five decades of success and brand recognition.
Classic Vacations was bought by The Najafi Companies in 2021 from Expedia Group.