TUI Ventures invests in global market standard created by peakwork AG

• Expansion of innovative technology and highly scalable business for travel production and distribution
• TUI Ventures acquires 15.4 per cent stake in peakwork AG

TUI Ventures has acquired a stake in peakwork AG. With this transaction, the financial investor is investing in the technology provider for the tourism. The two partners are aiming to establish a global market standard for the distribution of tourism services. peakwork AG’s innovative Player-Hub technology and the growing global partner network offer an ideal basis to meet the increasing requirements in tourism on an international level. TUI Group’s capital investment company has acquired a 15.4 per cent stake in peakwork and has become the Düsseldorf-based company’s first anchor investor. The company is planning to attract further investors. The parties have agreed not to disclose the investment price. The investment was facilitated through a capital increase and shares from existing peakwork shareholders.

Frank Rosenberger, Member of the Group Executive Committee and TUI Group Director Strategy: “Digitalisation is a key building block for accelerated, future growth at TUI. The acquisition of the stake in peakwork marks our entry into an innovative IT technology and a highly scalable business, aimed at further accelerating the pace of TUI’s growth. For a continued expansion of our portfolio of differentiated products and services, we need the technologies offering these products and services to our customers in a fast, transparent and tailored manner through all distribution channels. At the same time we have the opportunity to develop the digital backbone of the tourism sector, the whole industry will benefit from that.”

Ralf Usbeck, chairman of the board of peakwork AG: “We are receiving many inquiries from all over the world for investments in peakwork and have therefore decided to drive our further growth ahead with our strong strategic partners. We want to grow further and develop our technology platform into a global market standard for the tourism industry. We are delighted to have won TUI as our first anchor investor, and are now planning to attract additional investors.”

About peakwork

Peakwork AG, established in 2009, is the software specialist for the travel industry. With its innovative and unique worldwide Player-Hub technology®, peakwork has set new standards in the sector, resulting in higher quality, quantity, accuracy and speed in producing and selling travel products. The high-performing software and decentralised partner network provide unbeatable advantages for tour operators, distributors and the end consumer. TUI has already used peakwork technology for its dynamic packaging business model, for instance in Spain and Portugal.

About TUI Ventures

TUI Ventures is the TUI Beteiligungs GmbH based in Hanover, Germany. The company is a 100 per cent subsidiary of TUI AG and holds the shares in Hapag-Lloyd AG, Hamburg, amongst others.