TBA Global Sells DMC Division to Kuoni Group February 03, 2010
By Donna M. Airoldi
TBA Global, a New York–based online engagement marketing and communications agency, has sold its Destination Management Division to international travel operator Kuoni Group, headquartered in Zurich, Switzerland. The business will become part of Kuoni Destination Management (KDM). Full terms of the sale were not disclosed.
The destination management company (DMC) division of TBA Global currently counts 65 employees through nine offices across the United States, including Chicago, Las Vegas, Miami, New Orleans, Orlando, Scottsdale, San Diego, San Francisco and Washington, DC.
“The transition will be seamless for TBA’s U.S. DMC clients,” says Alison Jenks, vice president of marketing for TBA Global. “All TBA Global’s U.S. DMC assets transitioned to Kuoni, and all of TBA Global’s U.S. DMC employees are now employed by Kuoni, so the same client contacts are in place.”
For Kuoni, the acquisition broadens the travel company’s existing global reach in destination management while enhancing its profile in the U.S. market. KDM has a workforce of 2,286 (full-time-equivalent) employees worldwide. Its international network consists of more than 60 DMCs and some 20 sales offices throughout Africa, Asia, Australia, Europe, India, the Middle East and the United States.
“The acquisition of the Destination Management Division of TBA Global is a tremendous step forward for Kuoni in the United States, adding a tested team of travel and event specialists to diversify and enhance our corporate destination management operations as well as our presence in the world’s most important travel market,” said Jane Rossmango, CEO Destination North America for KDM, in a statement. “We look forward to taking full advantage of resulting synergies between our two companies, and to passing benefits along to our growing portfolio of clientele.”
TBA Global inherited the DMC division in a 2005 acquisition, said Lee Rubenstein, president and COO, in a statement. “It is an important supporting service for business events, but is no longer central to our ongoing U.S. growth plans. … This acquisition keeps TBA Global’s continuing growth focused on live and online strategy, content, and activation; while greatly benefiting Kuoni and TBA Global’s U.S. destination management clients.”
According to Jenks, TBA Global had been approached over the last few years by companies interested in acquiring its DMC division. “The Kuoni Group offered the right fit for the U.S. DMC group, and this acquisition allows TBA Global to continue our focus on providing strategy, content and execution of events, training, entertainment, and digital and social media,” says Jenks.
TBA Global will continue to maintain its marketing and communications offices in New York, Los Angeles, Chicago, San Francisco, San Diego, Detroit, Nashville, Vancouver, Banff, Whistler and London. As the sale includes only the U.S. DMC assets, TBA Global will also continue to provide DMC services in Canada and the United Kingdom.
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