Home
Internet
Internet News
Amadeus to Buy Navitaire From Accenture for $830 Million

Amadeus to Buy Navitaire From Accenture for $830 Million wtn

By Reuters | Updated: 2 July 2015 16:55 IST

ment

Spanish travel technology company Amadeus said it would buy Navitaire, a subsidiary of Accenture, for $830 million (roughly Rs. 5,280 crores), to focus mainly on digital services for airline engers.

Amadeus said it expects the deal, which is projected to close in the fourth quarter, will have a minimal impact on its financial performance this year. It said the deal would be earnings accretive from the first day. 1d2s56

About 550 Navitaire employees, including the company's senior management team, are expected to transfer to Amadeus, the company said in a statement on Wednesday

Navitaire which provides technology services to over 50 of the world's airline operators, focuses more on the low-cost and hybrid segments in the airline industry.

Amadeus said it believes that the acquisition of Navitaire would enable it to improve the connectivity between different carriers in the same airline groups or their alliances.

The addition of Navitaire's portfolio would enable Amadeus to serve a wider group of airlines.

Under the of the deal, Accenture will be designated as a "strategic partner" for the Amadeus airline IT business, Amadeus said.

The company reported revenues of EUR 3,417.7 million (roughly Rs. 23,994 crores) for the year ended December 31.

Luis Maroto, President and CEO of Amadeus, in a statement commented on the acquisition, "Bringing Navitaire's experience, industry know-how, client base and strong product portfolio is a significant step for Amadeus in the low-cost and hybrid-carrier segments. Airlines of all shapes and sizes face an increasingly competitive market for an increasingly demanding traveller, and this transaction will give us the ability to serve all airlines with technology that can enable them to drive new revenues and contain their costs."

© Thomson Reuters 2015

Comments

For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.