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Corporate Travel International (CTi) and Cyberes PLC merge in a deal worth 2.25 million.
(PRWEB) February 22, 2004 --Hull based, Corporate Travel International (CTi) which is the trading arm of Corporate Travel Holdings has been bought by Cyberes PLC. The two companies have worked together for over a year to bring about this merger which will place the new group in a strong negotiating position in the market place.
Ian White, managing director, CTi, said:
"This is a very exciting day for CTi. The merger brings together two parties that are very strong in their respective fields. CTi coupled with Cyberes brings the whole group one step closer to becoming one of the leading Travel organisations in Europe.
"By becoming one organisation, we aim to support Cyberes' objectives with the development of its unique software and strengthen our own ability to offer a full range of travel services.
"CTI have made significant steps over the past 8 years along with Cyberes they are becoming one of the success stories of our industry."
CTi has built a solid reputation in business and specialist leisure travel and is currently ranked 25th business travel specialist in the UK. With branches in Hull, York, Bradford, Manchester and Merseyside and a new office planned for Leeds, CTi will benefit from the worldclass leading IT developed by Cyberes plc for travel agents.
Formed in 1995 and part of the Bonus Group, the company's HQ after the acquisition will remain in Hull and there are no anticipated job losses. There will be no change to the CTi brand.
CTi recently announced its sponsorship of Hull FC and it aims to continue with its support of local sport.
For further information please contact Debbie Burnham at Corporate Communications - debbyb@corpcom.co.uk
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