The acquisition was facilitated by Yanolja Cloud, co-led by Jongyoon Kim and Junyoung Lee.
Founded in 2000, GGT is a renowned B2B travel solutions company that distributes a wide range of global travel inventory, including hotel room blocks, airline tickets, and local car rentals.
The company works with over 10,000 travel platforms and agencies worldwide, with extensive inventory secured primarily in North America and Europe.
The strategic acquisition provides Yanolja Cloud access to GGT's inventory of over one million properties in more than 200 countries, creating a robust global network hub connecting the travel and hospitality industries.
It also strengthens Yanolja's position as a global leader in the travel and hospitality industry.
Known for its advanced channel management systems, Yanolja Cloud enables travel agencies and platform operators to offer a wide range of travel products without securing inventory distribution rights.
By integrating GGT's global inventory, Yanolja Cloud expects to strengthen its competitive edge, foster international partnerships, and accelerate the rollout of its unique solutions to partners.
The acquisition also sets the stage for Yanolja Cloud to leverage GGT's 20 overseas offices as strategic expansion points for its global solutions business, enhancing customer response services and strengthening its global distribution network.
Jongyoon Kim, Co-CEO of Yanolja Cloud, emphasized that the acquisition aims to create a global network that attracts inbound travelers from around the world to South Korea.
Kim added, "As a global leader in distributing rich travel content, we plan to create an environment where all customers can enjoy travel more conveniently."
Yanolja, backed by the SoftBank Group’s Vision Fund 2, has been on an impressive growth trajectory since its inception in 2019, with revenues expected to soar from KRW 1 billion in 2020 to KRW 100 billion in 2022.
The company has expanded its global solution licenses from 39,000 to over 80,000 and continues to strengthen its global footprint through strategic partnerships and acquisitions.