Flight Centre says it has bought a 25 per cent stake in US corporate-focused platform The Upside Travel Company.
Flight Centre did not say how much it had paid but has become Upside’s largest individual shareholder.
The ASX-listed firm said Monday it hopes to use the tech platform to bolster its Corporate Traveller brand, targeting customers in the Americas in the near term and in the UK in the medium term.
“Upside … has the potential to disrupt traditional offerings in the (small and medium-sized enterprise) sector in the future,” Flight Centre managing director Graham Turner said.
Flight Centre Americas president Dean Smith said the company would benefit from Upside’s “cutting edge artificial intelligence” technology.
“Its use of machine learning models to dynamically price business travel packages in real-time to save clients money while increasing traveller options is just one example of Upside’s best in class technology,” he said.
Shares in Flight Centre were trading at $43.20 before the start of trade on Monday.