Italian-based TMC BizAway is increasing its presence in Spain with the acquisition of Barcelona-based Aervio.
BizAway said in a statement that it had acquired technology-orientated Aervio, which was ranked as the 14th largest TMC in Spain in 2024. Financial terms of the deal were not disclosed.
Aervio, which was founded in April 2016, has specialised in developing a series of AI-based tools designed to “optimise” the planning of business trips, including the streamlining of processes such as search, booking and billing.
BizAway said the acquisition was a “significant step in the company’s innovation path”, which would “strengthen its technology capabilities”.
“Aervio’s integration will allow BizAway to further enhance its proprietary platform, offering an even more efficient, personalised and proactive service,” said the TMC in its statement.
Luca Carlucci, CEO and co-founder of BizAway, added: “In a sector undergoing constant transformation like business travel, artificial intelligence represents a key opportunity.
“However, we firmly believe that technology must go hand-in-hand with the centrality of the human factor, especially in assistance: we will continue to invest to offer the best service with empathetic, competent support tailored to the real needs of companies and travellers.”
BizAway already has offices in the Spanish cities of Barcelona and Vigo, and was itself ranked as the 15th largest TMC in Spain, as well as the 7th largest in Italy, in 2024. BizAway added that “most” of Aervio’s staff will be integrated into its Spanish locations following the acquisition.
Aervio’s CEO Santiago Montero de Quadras said: “I truly believe in BizAway’s vision of delivering the future of travel, and I’m proud that Aervio’s technology, team and expertise can contribute to that journey.”
BizAway currently has a staff of more than 300 people across its offices in Italy, Spain, Albania and Dubai. The TMC also raised €35 million in new investment in September 2024 to help fund its expansion.