ATH American Express

History

2023: Smartway acquires ATH American Express

At the end of May 2023, the sale of the ATH business tourism agency to the Smartway travel organization service was announced. The transaction will cost $2-5 million, depending on the level of growth in the client base and turnover in the MICE direction (services for organizing business trips, issuing visas and organizing events).

Smartway stressed that the deal went on market terms. ATH will continue to develop under its own brand, and no management changes are planned either.

The sale of the ATH business tourism agency to the Smartway travel organization service was announced

According to the founder and CEO of Smartway Maxim Yaremko, thanks to the purchase of ATH, his company will be able to fully enter a new segment for itself - customers who need personalized offline service and event organization. In turn, ATH will receive a strong technological partner, and will be able to provide its customers with solutions built on Smartway technologies in the future, he added.

Joining the Smartway group is a logical step to continue the development of our company, says ATH Managing Director Philip Lukyanenko, commenting on the deal. - The current state of the market presents us with the possibility of rapid and ambitious growth, for this we need a partner who can provide technological and financial support. In turn, our know-how in working with global companies in accordance with international standards and our experience of a personalized approach to the service will help Smartway reach new horizons, in particular the MICE market. ATN's expertise is unique and has been formed by decades of work in partnership with the world's largest company, a leader in business travel.

According to Yaremko, after the transaction, companies from the Smartway group will receive competitive advantages through the consolidated purchase of services, a single IT infrastructure and common financial instruments.^[1]

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