Travelport

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Travelport
TypePrivately held company
IndustryTravel
Founded2001; 20 years ago (2001)
HeadquartersLangley, Berkshire, UK
Key people
Greg Webb, CEO
John Swainson, Executive Chairman
John Elieson, COO
Nick Bray, CFO
RevenueUS$2.5 billion (2018)
OwnerSiris Capital Group and Evergreen Coast Capital
Number of employees
3,700 (2020)[citation needed]
Websitewww.travelport.com
Travelport offices in Cumberland, Georgia

Travelport Worldwide Ltd provides distribution, technology, payment solutions[buzzword] for the travel and tourism industry. It is the smallest, by revenue, of the top three global distribution systems (GDS) after Amadeus IT Group and Sabre Corporation.

The company also provides IT services to airlines, such as shopping, ticketing, and departure control.

History[edit]

The company was formed by Cendant in 2001 following its acquisitions of Galileo GDS for $2.9 billion and CheapTickets for $425 million.[1][2]

In 2004, the company acquired Orbitz for $1.25 billion and Flairview Travel for $88 million.[2][3]

In 2005, the company acquired eBookers for $350 million and Gullivers Travel Associates for $1.1 billion.[2][4][5][6]

In August 2006, Cendant sold Orbitz and Galileo to The Blackstone Group for $4.3 billion, forming Travelport.[1][7]

In August 2007, Travelport acquired Worldspan for $1.4 billion.[8]

In July 2007, the company completed the partial corporate spin-off of Orbitz via an initial public offering.[9]

In May 2010, the company acquired Sprice.com.[10]

In 2011, the company sold Gullivers Travel Associates to Kuoni Travel for $720 million.[11][12][13]

On September 25, 2014, the company became a public company via an initial public offering on the New York Stock Exchange.[14]

In 2015, Travelport acquired Mobile Travel Technologies for ‎€55 million.[15]

In 2017, Travelport was the first GDS to be awarded the International Air Transport Association NDC (New Distribution Capability) Level 3 certification as an aggregator of travel content.[16] In 2018, it became the first GDS operator to manage the live booking of flights using the NDC standard.[17]

On May 30, 2019, the company was acquired by affiliates of Siris Capital Group and Evergreen Coast Capital, an affiliate of Elliott Management Corporation, for $4.4 billion.[18]

References[edit]

  1. ^ a b "Form S-4 Travelport Limited". U.S. Securities and Exchange Commission. March 30, 2007.
  2. ^ a b c Schaal, Dennis (July 9, 2006). "With sale, Travelport will privately go about its business". Travel Weekly.
  3. ^ Schaal, Dennis (October 3, 2004). "Cendant buys Orbitz for $1.25B". Travel Weekly.
  4. ^ Singer, Jason; Berman, Dennis K. (December 2, 2004). "Cendant Buys eBookers In $404 Million Deal". The Wall Street Journal.
  5. ^ Griffiths, Katherine (3 December 2004). "Travel giant Cendant takes over ebookers for 209 million". The Independent.
  6. ^ Schaal, Dennis (November 5, 2009). "Travelport to take massive writedown of GTA, but will invest in Orbitz". Phocuswire.
  7. ^ "Blackstone Group Completes Acquisition of Cendant's Travelport Subsidiary" (Press release). The Blackstone Group. 23 August 2006.
  8. ^ "Travelport Completes Acquisition of Worldspan, L.P. Creating a Global Leader in Travel Distribution Services" (Press release). PR Newswire. August 21, 2007.
  9. ^ Zieminski, Nick (July 19, 2007). "Orbitz's IPO prices at $15/share". Reuters.
  10. ^ "Travelport Completes Acquisition of Sprice.com" (Press release). PR Newswire. May 18, 2010.
  11. ^ MacLucas, Neil; Cameron, Doug (March 7, 2011). "Cendant Buys eBookers In $404 Million Deal". The Wall Street Journal.
  12. ^ "Kuoni buys Gullivers Travel to boost online business". Reuters. March 7, 2011.
  13. ^ "Kuoni Announces Agreement to Acquire Gullivers Travel Associates to Become One of the Leading Global Providers of Online Destination Management Services" (Press release). The Blackstone Group. March 7, 2011.
  14. ^ "Travelport Worldwide LTD (TVPT) IPO". NASDAQ.
  15. ^ May, Kevin (8 July 2015). "Travelport acquires Mobile Travel Technologies for Euro 55 million". Phocuswire.
  16. ^ McDonald, Michele (13 December 2017). "Travelport is first GDS to receive Level 3 NDC certification from IATA". Phocuswire.
  17. ^ "Travelport becomes first GDS operator to offer NDC content" (Press release). PR Newswire. October 23, 2018.
  18. ^ "Travelport Worldwide Limited announces completion of acquisition by affiliates of Siris Capital Group, LLC and Evergreen Coast Capital Corp" (Press release). PR Newswire. May 30, 2019.