Skift Take
It's not every day that a travel tech company buys a media and events business, but the tech CEO said the deal is part of a long-term strategy.
Travel tech holding company Travelsoft Group said today that it has acquired the financially struggling Eventiz Media Group, publisher of French travel trade magazine L’Echo Touristique, which was founded in 1934.
Eventiz Media also owns TOM.travel and Déplacements Pros and Pagtour media. And the company organizes several annual events for the French tourism and business travel industry.
Eventiz went into receivership in fall of 2023 and filed a document with the French government showing that was unable to met its financial obligations and was under a court-supervised restructuring and a plan to pay back its creditors. The terms of the deal were not disclosed but likely it cost Travelsoft very little based on the financials struggles of Eventiz.
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