Travelport Purchased by Technology Investors for Over $4 Billion
by Daniel McCarthy /Travelport is set to be acquired for $4.4 billion by investment company, Siris Capital Group, and private equity firm, Evergreen Capital Corp. Photo: Shutterstock.com.
Travel commerce company, Travelport, is set to be acquired for $4.4 billion by investment company, Siris Capital Group, and private equity firm, Evergreen Capital Corp, pending approval from its shareholders.
The deal, which is expected to close sometime during the second quarter in 2019, would mean that Travelport would now operate under private ownership, though executives maintained that it would be “very much business as usual at Travelport,” and there will be no immediate changes to the business, including no changes to its U.K. headquarters.
“We will continue to develop and invest in our platform to serve the changing needs of our customers in the travel industry. It is very much business as usual at Travelport and we look forward to this new era in the company’s development,” Travelport CEO and President Gordon Wilson said in a statement announcing the deal.
In a statement, Siris Capital’s Co-Founder Frank Baker said that Travelport’s technology, including its GDS platform that “supports mission-critical transactions for both travel providers and agents,” and its payment tool, eNett, made it an attractive buy.
“Siris looks forward to partnering with the company’s management team and Evergreen in this next phase of Travelport’s evolution and growth as a private company,” he said.
