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Busbud Acquires Buson to Expand Bus Ticketing in Latin America
20.03.2024 - 03:19 / skift.com / Justin Dawes
Busbud, an online marketplace for intercity bus and train tickets, is expanding its presence in Brazil through the acquisition of Buson.
Montreal-based Busbud offers business-management software to bus operators and has an online marketplace where travelers can purchase digital tickets.
Buson offers similar software to 300 bus operators in Brazil and also has an online marketplace for ticket purchases.
Busbud now has more than 600 clients in Latin America and thousands globally, the company said. Buson has 64 employees based in Brazil, bringing Busbud’s total to about 255 employees worldwide.
Buson in 2016 completed a series A funding round led by firm Kaszek Ventures. As part of the deal, Kaszek has taken a stake in Busbud, along with Buson CEO and co-founder Thiago Carvalho and other Buson shareholders.
Carvalho will maintain his title and lead Busbud’s operations in Brazil, the company said.
The acquisition price was not disclosed, but Busbud said it was the largest such transaction it has made.
This is Busbud’s third acquisition, part of a vision to expand geographically, particularly in Latin America, as well as grow its group of software products.
Busbud acquired the other two companies in 2022: Betterez, a reservations and ticketing management software platform, and Recorrido, a Chile-based intercity bus marketplace.
Busbud says it more than doubled net revenue in the year following the Recorrido acquisition.
Busbud is one of numerous companies around the world seeking to modernize ticketing and operations for ground transportation, some focused on their regions’ unique issues and some focused on global operations. It’s a sector of the travel industry that has historically lagged behind technologically.
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