Travelport has received a US$200 million investment from owners Siris Capital Group and Elliott Management, following the company’s strong first quarter performance.
This injection of capital will enable Travelport to continue executing against its aggressive growth strategy as the travel industry recovers.
In March, Travelport acquired Deem, a leading corporate travel management platform, in order to fulfil a growing need for a tight, fully-integrated tool that provides access to all multi-source content, including NDC.
The company also launch Smartpoint Cloud, delivering a more intuitive and efficient way for travel agents to sell and service travel, all while increasing sales of higher-value services for suppliers.
The US$200 million investment, along with a recent refinancing that received the support of 100 per cent of Travelport’s First Lien Lenders and materially lowered the company’s cash interest expense, provides the company with significant liquidity while demonstrating investors’ strong belief in the company’s bright future.
Greg Webb, CEO of Travelport, said: “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 fuelling the company’s momentum.”