Travel tech group Travelsoft today announces three further acquisitions – TravelgateX, ATCORE Technology, and Travel Connection Technology – to become a global player in technology solutions for the leisure travel industry, with the group’s technology processing €35 billion in transactions annually.
With the latest additions, Travelsoft – which previously acquired Eventiz Group in May this year, Travel Compositor in 2023, and Traffics in 2022 –has now a global team of 600 professionals and recurring revenues reaching €100 million annually with strong organic growth potential ahead.
The new inclusions into the group mean that Travelsoft has now a presence in over 80 countries, with 400 major clients and 1,000 travel suppliers globally.
As such, the group is able to address all issues faced by tourism companies – plus destinations (DMOs) and tourism boards – through this geographic footprint expansion, increased synergies and greater innovation opportunities to provide significantly higher value to its resilient client base.
As with previous Travelsoft acquisitions, each of the latest additions to the group will maintain strong autonomy, including keeping their names, brand identities, leadership teams and technology platforms – with Pedro Camara and Sandra Chinappen from TravelgateX, Dave Cruickshank, Andy Lennon and Mike Wright from ATCORE Technology, and Alexandru Elisei from Travel Connection Technology all remaining in their leadership positions and aligned with the combined projects going forward.
These acquisitions were enabled thanks to the significant reinvestment by Christian Sabbagh and CAPZA, who strongly believe in the potential of this combination and the great opportunities it will trigger for the group.
Christian Sabbagh, Founder and CEO of Travelsoft, comments: “These three acquisitions represent a quantum leap for us as we take a giant step forward in our mission to become the global leader in travel SaaS. But we won’t stop here and remain committed to further growth through both innovation and further acquisitions too.
The addition of TravelgateX, ATCORE Technology and Travel Connection Technology, each with cutting-edge technology and outstanding leadership teams, further increases our value and relevance to clients and supplier partners around the world – whilst creating many synergies and innovation opportunities within the group that partners will quickly benefit from.”
Guillaume Basquin, Partner of CAPZA Flex Equity Mid-Market: “We are thrilled to announce this significant milestone for Travelsoft, which enables the group to more than double its size just eight months after our initial investment. This achievement will considerably strengthen the group’s leadership in Europe particularly. Backing talented and visionary founders like Christian and managers in their efforts to consolidate their market internationally forms the DNA of our flexible investment strategy. This will also accelerate our ESG roadmap to provide our customers with best-in-class green travel services.”
Adding to this, Pedro Camara, Founder and CEO of TravelgateX remarks: “Combining ourselves with Travelsoft’s now six other excellent businesses makes for a group greater than the sum of its parts, which is an unmissable opportunity to everyone’s mutual benefit.”
Whilst Dave Cruickshank, CEO of ATCORE Technology also adds: “For many years we have admired Travelsoft and becoming part of the group is an exciting next step that will further drive our growth and innovation.”
Flor Kassai, Partner and Head of Inflexion’s Buyout Fund, commented, “We would like to thank the ATCORE team for their hard work and commitment during our partnership. We leave the business in safe hands to continue to scale under its new ownership.”
Finally, Alexandru Elisei from Travel Connection Technology says: “We are very excited to join the Travelsoft family and feel we have much to offer to the group’s customer base.”
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