Australian firm Flight Centre Travel Group has acquired the operations of Bengaluru-based Travel Tours Group to expand its footprint in South India and grow its leisure travel business.

The acquisition has been carried out by Flight Centre's Indian subsidiary FCM Travel Solutions (FCM) in a cash and stock deal. The combined entity will have a gross revenue of about Rs 3,000 crore. Gross revenue refers to the transaction value of the business carried out by the firm. The deal size was not disclosed.

The deal will allow the Australian firm to capitalise on the growing outbound and inbound travel segments in India.