Travel tech company DerbySoft announced Thursday that it has acquired PKFare, a global B2B travel marketplace.
Terms of the transaction were not disclosed. The companies will share selected corporate functions and technology resources while upholding independent business operations, according to the announcement.
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“DerbySoft is focused on anticipating market needs and empowering our clients with a competitive edge by continually innovating and providing bespoke solutions that address their unique and complex needs,” said Ted Zhang, CEO and co-founder of Dallas-based DerbySoft. “Adding PKFare into our platform aligns seamlessly with our goal of accelerating travel commerce.”
The release noted China-based PKFare’s global footprint, with approximately 60% of its business from North America, Europe and the Middle East and 40% from Asia Pacific. Founded in 2014, the company provides inventory from more than 600 airlines and 650,000 hotels in more than 100 countries.
“This venture represents a strategic step forward in our commitment to innovation and value creation in the travel distribution space,” said Jason Song, president and founder of PKFare. “By providing our partners with more technological innovation, better services and ultimately increased value, this partnership will help us deepen our collaboration and offer our customers even more flexibility in the booking process.”
Founded in 2002, DerbySoft provides distribution, marketing and content services for the global hospitality industry.
