Cambodia Investment Review
Haystack Global, a leading international investment company, has announced the acquisition of an additional 18% stake in Camboticket, a major online travel booking platform in Cambodia. This acquisition increases Haystack Global’s ownership in Camboticket to 70% and further solidifies its position in the Southeast Asian market.
Read more: Shivam Tripathi kicks off OBOR and Khmer Enterprise’s ‘SME IR Program’
Camboticket.com was founded eight years ago and has since become a prominent player in the Cambodian travel industry. The platform offers customers the ability to book bus, ferry, and private taxi services across the country, with a focus on simplifying travel and promoting sustainable tourism. Camboticket has garnered a loyal customer base and experienced steady growth in recent years.
Supporting its continued growth
Haystack Global’s strategic acquisition aims to support the continued growth of Camboticket, capitalize on the platform’s success, and leverage the synergies between both companies. The increased investment will enable Camboticket to expand its services, enhance its technology, and strengthen its market position in the highly competitive online travel industry.
Sila Thai, General Manager of Camboticket, sees the expansion of Haystack’s ownership as an opportunity to benefit from the tech team and go-to-market experts of the group. Frederic H. Proulx, Managing Partner of Haystack Global, believes that Camboticket is the player in the market that can generate the most returns over the next 10-year plan that the company is preparing.
The transaction is effective immediately, and Haystack Global remains committed to identifying and investing in promising companies in the Southeast Asian market. With a strong focus on creating long-term value for its shareholders and partners, this acquisition marks another significant milestone in Haystack Global’s expansion strategy.
Promoting sustainable and reliable travel
Camboticket’s mission is to simplify travel, promote sustainable tourism, and provide a reliable, user-friendly platform for travelers seeking memorable experiences. The remaining 30% of shares are held by the esteemed Royal Group of Cambodia, a prominent conglomerate in the Cambodian market with interests in various sectors, including banking, telecommunications, media, real estate, and hospitality.
Haystack Global is a leading international investment company that specializes in identifying and supporting high-potential businesses across various sectors. With a diversified portfolio, the company focuses on creating long-term value for its shareholders and partners by nurturing growth and innovation.
