Travel technology and distribution company Travelport has announced a $200 million investment from its owners Siris Capital Group and Elliott Management.
The company said the funds will enable it to advance its growth strategy following a strong first quarter and its acquisition of Deem.
Greg Webb, CEO of Travelport, said: “The $200 million investment from our owners, Siris Capital Group and Elliott Management, reflect their confidence in Travelport and the continued recovery of the travel industry. The main advantage of private equity ownership is agility, which is crucial in a rapidly changing environment. This investment will allow Travelport to further advance its tech innovations, while fueling the company’s momentum.”
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It announced its acquisition of corporate booking technology company Deem in early March with Webb saying at the time that Travelport wants to have "as much depth and breadth of reach as possible into the corporate travel environment and realize that part of that comes with partnership."
The company cites other recent milestones including its new distribution capability (NDC) content solution for American Airlines. From next week, the carrier will offer some content only via NDC channels.
Recent distribution deals for Travelport include a multi-year partnership with Avianca announced in June, which gives agents access to the carriers airfares and ancillaries.
The global distribution system will also help Avianca with its technology transformation as part of the deal.
More recently, a similar deal was signed with Saudia Airlines with Travelport also helping the carrier with its retail initiatives.
Travelport was sold back to private equity in late 2018 for $4.4 billion after more than four years on the public markets.