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E-invoicing, SCF & E-procurement

Travelport Worldwide to be acquired by two US investment funds

Wednesday 12 December 2018 | 10:19 AM CET

Travel technology platform and B2B payments specialist Travelport Worldwide has announced it will be acquired by Siris Capital and Evergreen Coast Capital.

The acquisition is part of a deal worth USD 4.4 bln and it is to be completed in an all-cash transaction in 2019. Siris and Evergreen (the private equity affiliate of Elliott Management Corporation) will acquire all the outstanding common shares of Travelport. The board of directors of Travelport unanimously approved the agreement and recommended that shareholders vote in favour of the transaction.

The transaction is expected to close in the second quarter of 2019 subject to conditions, including shareholder and regulatory approval. Travelport Worldwide is headquartered in Slough and has a further UK site in Swindon.

According to Siris, the investment fund was interested in Travelport’s GDS technology platform, which supports mission-critical transactions for both travel providers and agents. At the same time, Travelport was also behind eNett, focused on secure virtual travel payments.

More: Link
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