Caldwell claims 140 corporate clients, including "several publicly traded health care companies, publishers, music industry record labels, manufacturers, as well as smaller companies in various industries." Direct Travel indicated that the acquisition through a stock purchase agreement "furthers its established growth strategy, which includes increased growth in the small and medium enterprise market and targeted acquisitions, along with sales to new and existing clients." Terms were not announced. Fifty Caldwell employees are joining Direct Travel. Previously called Directravel Intermediate Holdco, the company this month officially was renamed Direct Travel Inc. Its three brands—Directravel, CTS (
acquired in 2011) and Travel Management Corporation (
acquired in 2013)—will "begin operating under the company's new name, effective May 14, 2014," according to a statement.