Travelport’s private equity owners, Siris Capital Group and Elliott Management, are investing $200 million in the travel technology company, Travelport announced.
Travelport CEO Greg Webb said the investment “will allow Travelport to further advance its tech innovations, while fueling the company’s momentum.” The company said it has “significant liquidity” with the investment as well as a recent debt restructuring that “materially” lowered its interest expense.
As a privately held company, Travelport does not report quarterly results like its competitors, Sabre and Amadeus, but the company claimed a “strong first quarter performance.” The quarter included the acquisition of Deem, the launch of the new Smartpoint Cloud retailing interface and the completion of making American Airlines’ New Distribution Capability content live across its full portfolio, according to Travelport.
