TUImakesinvestmentintechproviderPeakwork

European tour operating giant TUI Group has taken a 15.4% stake in Peakwork, the Germany-based software provider that was formed in 2009.

The financial details behind the investment are not disclosed.

The backing of TUI comes as Peakwork looks to attract other strategic investment opportunities.

Peakwork creates distribution software that it licenses out to the travel value chain.

It connects supply – from dozens of airlines, package suppliers, hotels, bedbanks, global distribution systems (GDSs), and other sources – with distributors, including tour companies (such as Thomas Cook), online travel companies (like Trivago), networks (like Expedia Affiliate Network), tours and activities brands (such as Get Your Guide), and other distributors.