The Caterer parent Jacobs Media Group (JMG) has agreed to acquire Online Travel Training (OTT) for an undisclosed sum.
The deal comes after OTT began exploring options for the company including approaching business rescue specialists last week. The acquisition will secure the jobs of all 14 employees and contractors, who currently work remotely in the UK and overseas.
OTT has a range of clients in the sector, including airlines, tourist boards, tourist attractions, hotels and tour operators, providing bespoke training courses, virtual events, webinars, incentives and rewards for staff in the industry.
Clive Jacobs, chairman of JMG, said: "I am absolutely delighted that we have been able to reach an agreement to acquire OTT and thereby bring a much-loved travel trade brand into the JMG product portfolio. Since acquiring Travel Weekly in 2009 we have grown a powerhouse of travel brands in the UK market, including Aspire and ATAS, and the combination of these and OTT will be an incredibly exciting proposition.
"The synergies between our UK brands and OTT are clear to see, but we also have a global opportunity through Connecting Travel in the Middle East and Asia, and with our community for decision-makers in luxury travel, Connections. Furthermore, we have a real opportunity to leverage skills training in the hospitality sector through our UK hospitality publication, The Caterer."
Jacobs added: "As a business we have gained incredible momentum since we emerged from the pandemic, leading to record growth in the years since. To be able to bring such a respected business in the training arena into our family of brands will only serve to increase that momentum, and I'm very much looking forward to welcoming the OTT employees into our family at JMG."
Julia Feuell, founder of OTT, said: "The last week has been incredibly tough on everyone involved at OTT, but I am delighted that we have found a way to protect the business and our team. Knowing that the business is not only saved but will also be alongside such a formidable portfolio of B2B travel brands gives me total confidence that this is just the beginning of the next phase of growth for OTT.
"I am looking forward to continuing my journey with OTT in its new home, helping to integrate my team and our leading training platform, and of course working with the travel industry to ensure we continue to provide market-leading training and education services."