Cox and Kings Ltd subscribes to RADIUS share offering 20th, July 2011
Mumbai, July 20th 2011: Cox and Kings Ltd., a leading name in corporate travel has subscribed to the share offering of RADIUS through its Singapore subsidiary. RADIUS is a consortium of leading travel agents present in more than 3,600 locations across 80 countries. Most agencies are among the top five players in their national markets. This fresh offering of RADIUS will help RADIUS rescale its infrastructure, which is in direct response to the tremendous recent growth of their client portfolio.
According to Chris Vasiliou, President and CEO, RADIUS, "This investment will allow us to take full advantage of the current market opportunity. Cox and Kings is one of our key shareholders in India and they are poised to grow and become a leading corporate travel player."
The investment will add significant global sales and support resources as well as expand RADIUS technology offering and data management and reporting capabilities.
RADIUS has grown more than 200 per cent in the last three years. Over the last 18 months, it has welcomed leading agencies from across the world to its network as it continues to strategically expand its service offering.
Commenting on the investment, Peter Kerkar, Director, Cox and Kings Ltd, said, "We believe that this investment will further strengthen our ongoing partnership with RADIUS and provide us with the scale to service our existing blue chip corporate customers in India and service their requirements in international markets where we do not have a presence."
The funding will add significantly to RADIUS' global sales and support resources as well as expand its technology offering and data management and reporting capabilities.
About RADIUS RADIUS is one of the world's largest travel management companies with combined annual sales of more than $21 billion US. RADIUS is comprised of 90 travel agencies in 80 countries with more than 3,300 locations. RADIUS is headquartered in the United States with regional offices servicing the Americas, EMEA and Asia Pacific.
About Cox And Kings Ltd: (Bse: 533144 | Nse: Cox&Kings) Cox & Kings Ltd. (CKL) is the longest established travel company in the world since 1758. Headquartered in India, it is a premium brand that caters to the overall travel needs of the Indian and International traveller. Cox & Kings operates in 20 countries through branch offices, subsidiaries, representative offices, franchised sales shops as well as through its global network of sales agents.