Singapore - After a year of partnership, TQ3 Travel Solutions has acquired a 9.03 per cent stake in Denver-based TMC, Navigant International, to secure its foothold in the US and strengthen its global network.

Since January, TQ3 said it had raked in new business worth more than US$400 million and this move would protect this success and gain new business. President and CEO, Mr Marc Hildebrand, said: “It is our wish to further strengthen our relationship with Navigant, especially in marketing and technology.” He added TQ3 was content with its current level of shareholding and declined to say if the company planned to own more of Navigant.

Navigant is the second largest corporate travel management provider in North America based on airline tickets and also has business travel companies in Australia and New Zealand.

In 2003, Navigant forged a partnership with Singapore-based Anglo-French Travel (AFT) with the objective of tapping into each others’ regional markets.

The partnership lapsed when Navigant announced it was entering into a partnership with TQ3 last year.

AFT has since shifted its focus back to Asia (see left).