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The Company Dime - CTM to Acquire Travel and Transport

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markets. The combined entity is certainly more competitive globally than they were individually. Both companies have a great reputation for customer service so this should be a win/win for them." Both companies have invested in technology. Travel and Transport developed its own desktop customer relationship management system. It built data analytics unit Data Visualization Intelligence (DVI), a wholly owned subsidiary. DVI also comes along to CTM. T&T was one of the first TMCs to build a proprietary mobile app, launched nine years ago. In April 2019, it acquired language translation and Wi-Fi calling app maker TripLingo. CTM also has a mobile app, as well as its own corporate booking tool. O'Malley, who becomes CTM North America CEO, called CTM's proprietary online booking tool, Lightning, "a big thing to us." T&T CIO Mike Kubasik will take the role of global CTO for Corporate Travel Management. Both companies have divisions for meetings and events, loyalty and vacations. In April 2020, Travel and Transport joined other large TMCs in enlisting government relations and public affairs firm Monument Advocacy to represent them. In June, O'Malley said he expected "huge numbers" of TMC layoffs during the summer and into fall. He also said the company would pursue federal lending. "If we chose to stay the course, we would have borrowed from one of the government programs," said O'Malley on Monday. "We would have done it to create a longer runway, but once we knew we were joining forces with CTM, we didn't need to do that." Pherous claimed the combined TMC would have the biggest midmarket travel management business in the world. Among other management changes, T&T president and COO Tim Fleming will serve as president of CTM North America and its CFO, Josh Weiss, will be CFO of the region. Current CTM North America CEO Maureen Brady will be COO in the region. "We agreed to a combined org chart, and what duplication we'll have to deal with, in three or four days," said Pherous of recent meetings in Omaha, which will host CTM North America's headquarters. "There is great intent and pragmatism in both management teams. We walked away with a really good plan. With activity being so low right now, you have a blank canvass. Together, we're going to be very dangerous." REPRINT 3 COPYRIGHT 2020 • B2B REPORTER LLC "We were not in financial distress by any stretch, but to think about how to come out stronger was hugely appealing." Kevin O'Malley CTM North America CEO

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