NZ travel agency pays more than $100m for US technology firm

NZ travel company Liat has signed a deal with US software company Salesforce to supply its own travel agency services.

Key points:Liat has taken over the management of travel agency Salesforce, which it bought from Travelers Group in December 2016, and is set to become one of the world’s biggest IT providers for travel and leisureCompanies that run travel agencies have struggled in recent years to attract and retain talent and employeesThe deal includes the expansion of Liat’s current IT services base to help it compete in a global marketplace for online travel and travel-related products and services”The acquisition of Salesforce is the result of a strategic partnership and we look forward to working closely with Salesforce over the next four years to build a business that is sustainable for New Zealand and the world,” Liat CEO Paul Kwan said in a statement.

“This acquisition will create a global platform that Liat will be able to use to bring our award-winning, proven travel services to a wider audience.”

The acquisition is part of a broader expansion of the company’s IT operations, with a $2.7 billion investment announced earlier this year.

The company has already hired more than 1,000 staff and is expanding to more than 25 countries and territories.

Liat’s management of the Salesforce IT platform was announced in December.