New Delhi, Sept. 3 -- Shares of Gurugram-based travel services provider TBO Tek rose 15 percent in intra-day trading on Wednesday, September 3, after the company announced an agreement to acquire US-based Classic Vacations from Phoenix-based Najafi Companies for up to $125 million.

The acquisition brings together TBO's global technology platform and inventory with Classic Vacations' network of over 10,000 luxury travel advisors and suppliers, strengthening TBO's position in the premium outbound travel market. Classic Vacations will continue to operate as an independent brand while leveraging TBO's technology and distribution to scale operations.

"TBO's entry into the premium outbound travel market complements Classic Vacation's exclusiv...