H.I.S. announced that it will acquire US travel company American Ring Travel. The acquisition price is approximately ¥269 million, and the stated aim is to strengthen the acceptance of customers in the North American market and support global growth.
H.I.S. (HIS) announced that it will acquire US travel company American Ring Travel (ART). The acquisition price is US$1.67 million (approximately ¥269 million), and H.I.S. plans to acquire 100% of ART’s issued shares, making it a wholly owned subsidiary. The share transfer is scheduled for mid-September.
ART was founded in the United States in 1983 and operates in the United States and Canada. Through ART, HIS aims to strengthen its capacity to accommodate travelers in North America.
The acquisition is described as being in line with the strategic objectives of expanding HIS’s customer base in the North American market and growing its global business, and is viewed as likely to accelerate HIS’s expansion in North America.