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TUI Ventures invests in global market standard created by peakwork AG

Expansion of innovative technology and highly scalable business for travel production and distribution. TUI Ventures acquires 15.4 per cent stake in peakwork AG.

HANNOVER / DUSSELDORF – TUI Ventures has acquired a stake in peakwork AG. With this transaction, the financial investor is investing in the technology provider for the tourism. The two partners are aiming to establish a global market standard for the distribution of tourism services. peakwork AG’s innovative Player-Hub technology and the growing global partner network offer an ideal basis to meet the increasing requirements in tourism on an international level. TUI Group’s capital investment company has acquired a 15.4 per cent stake in peakwork and has become the Dusseldorf-based company’s first anchor investor. The company is planning to attract further investors. The parties have agreed not to disclose the investment price. The investment was facilitated through a capital increase and shares from existing peakwork shareholders.

Frank Rosenberger, Member of the Group Executive Committee and TUI Group Director Strategy: “Digitalisation is a key building block for accelerated, future growth at TUI. The acquisition of the stake in peakwork marks our entry into an innovative IT technology and a highly scalable business, aimed at further accelerating the pace of TUI’s growth. For a continued expansion of our portfolio of differentiated products and services, we need the technologies offering these products and services to our customers in a fast, transparent and tailored manner through all distribution channels. At the same time we have the opportunity to develop the digital backbone of the tourism sector, the whole industry will benefit from that.”

Ralf Usbeck, chairman of the board of peakwork AG: “We are receiving many inquiries from all over the world for investments in peakwork and have therefore decided to drive our further growth ahead with our strong strategic partners. We want to grow further and develop our technology platform into a global market standard for the tourism industry. We are delighted to have won TUI as our first anchor investor, and are now planning to attract additional investors.”

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Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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