The travel technology giant’s acquisition of TravelClick from private equity owner Thoma Bravo is expected to close in the fourth quarter of 2018, according to Reuters.
The agreement is the biggest strategic move Amadeus has made on the hospitality tech front—firmly pitting it against Sabre and other players in the hotel reservation system arena.
“The addition of TravelClick’s solutions to the Amadeus portfolio will create a hospitality IT leader providing a broad range of innovative technology to hotels and chains of all sizes across the globe,” the company stated.
Amadeus sees combined core earnings of €2 billion (US$2.3 billion) and revenue above €5.1 billion (US$5.8 billion) after it closes the deal, which it expects to be immediately accretive.
Amadeus will partially finance the buy with a €1 billion (US$1.14 billion) debt facility, it announced.
Full Content: Reuters