Corporate Travel Management, the Australia-based travel management company, announced the acquisition of Helloworld Travel Limited’s corporate and entertainment travel business (Helloworld Corporate) in Australia and New Zealand. The purchase price is $125 million. The deal, according to an announcement, is highly complementary to CTM’s existing Australia and New Zealand corporate travel management operations and adds industry verticals that are expected to perform strongly as the recovery from COVID-19 continues. Completion of the acquisition is expected to occur in the first quarter of 2022, subject to regulatory approval. Jamie Pherous, managing director of CTM, said the company “is privileged to be able to acquire these businesses and is excited to be the custodian of such a high-quality portfolio of clients. “ Andrew Burnes, Helloworld’s CEO, said his company believes that CTM is the right home for its corporate and entertainment travel clients in the future. He said CTM is “an excellent operation with particularly high standards of service and proprietary customer technology in the Australian and New Zealand markets and around the globe."