travelport
{{short description|Smallest, by revenue, of the top three global distribution systems}}
{{Notability|Companies|date=April 2021}}
{{Infobox company
| name = Travelport Worldwide Ltd.
| logo = Travelport logo.svg
| type = Private
| industry = Travel
| foundation = {{start date and age|2001}}
| location = Langley, Berkshire, UK
| key_people = Greg Webb (CEO)
John Swainson (executive chairman)
John Elieson (COO)
Nick Bray (CFO)
| revenue = US$2.5 billion (2018)
| owner = Siris Capital Group and Evergreen Coast Capital
| num_employees = 3,700 (2020) {{citation needed|date=February 2020}}
| homepage = {{URL|www.travelport.com}}
}}File:300 Galleria Pkwy viewed from SunTrust Park, May 2017.jpg]]
Travelport Worldwide Ltd. provides distribution, technology, and payment solutions 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
The company was formed by Cendant in 2001 following its acquisitions of Galileo GDS for $2.9 billion and CheapTickets for $425 million.{{cite web | url=https://www.sec.gov/Archives/edgar/data/1004120/000104746907002376/a2173366zs-4.htm | title=Form S-4 Travelport Limited | publisher=U.S. Securities and Exchange Commission | date=March 30, 2007}}{{cite news | url=https://www.travelweekly.com/Travel-News/Travel-Technology/With-sale-Travelport-will-privately-go-about-its-business | title=With sale, Travelport will privately go about its business | first=Dennis | last=Schaal | work=Travel Weekly | date=July 9, 2006}}
In 2004, the company acquired Orbitz for $1.25 billion and Flairview Travel for $88 million.{{cite news | url=https://www.travelweekly.com/Travel-News/Travel-Technology/Cendant-buys-Orbitz-for-1-25B | title=Cendant buys Orbitz for $1.25B | first=Dennis | last=Schaal | work=Travel Weekly | date=October 3, 2004}}
In 2005, the company acquired eBookers for $350 million and Gullivers Travel Associates for $1.1 billion.{{Cite news | url=https://www.wsj.com/articles/SB110193776182488431 | title=Cendant Buys eBookers In $404 Million Deal | first1=Jason | last1=Singer | first2=Dennis K. | last2=Berman | work=The Wall Street Journal | date=December 2, 2004 | url-access=subscription}}{{cite news | url=https://www.independent.co.uk/news/business/news/travel-giant-cendant-takes-over-ebookers-for-acircpound209m-674909.html | title=Travel giant Cendant takes over ebookers for 209 million | first=Katherine | last=Griffiths | work=The Independent | date=3 December 2004}}{{cite news | url=https://www.phocuswire.com/Travelport-to-take-massive-writedown-of-GTA-but-will-invest-in-Orbitz | title=Travelport to take massive writedown of GTA, but will invest in Orbitz | first=Dennis | last=Schaal | work=Phocuswire | date=November 5, 2009}}
In August 2006, Cendant sold Orbitz and Galileo to The Blackstone Group for $4.3 billion, forming Travelport.
In August 2007, Travelport acquired Worldspan for $1.4 billion.
In July 2007, the company completed the partial corporate spin-off of Orbitz via an initial public offering.{{cite news | url=https://www.reuters.com/article/orbitz-ipo/update-1-orbitzs-ipo-prices-at-15-share-idUSN1926512720070719 | title=Orbitz's IPO prices at $15/share | first=Nick | last=Zieminski | work=Reuters | date=July 19, 2007}}
In May 2010, the company acquired Sprice.com.
In 2011, the company sold Gullivers Travel Associates to Kuoni Travel for $720 million.{{cite news | url=https://www.wsj.com/articles/SB10001424052748703386704576186160825410304 | title=Cendant Buys eBookers In $404 Million Deal | first1=Neil | last1=MacLucas | first2=Doug | last2=Cameron | work=The Wall Street Journal | date=March 7, 2011 | url-access=subscription}}{{cite news | url=https://www.reuters.com/article/uk-kuoni/kuoni-buys-gullivers-travel-to-boost-online-business-idUSLNE72601D20110307 | title=Kuoni buys Gullivers Travel to boost online business | work=Reuters | date=March 7, 2011}}
On September 25, 2014, the company became a public company via an initial public offering on the New York Stock Exchange.{{cite web | title=Travelport Worldwide LTD (TVPT) IPO | url=http://www.nasdaq.com/markets/ipos/company/travelport-worldwide-ltd-768790-75623 | publisher=NASDAQ}}
In 2015, Travelport acquired Mobile Travel Technologies for €55 million.{{cite news | last=May | first=Kevin | title=Travelport acquires Mobile Travel Technologies for Euro 55 million | url=https://www.phocuswire.com/Travelport-acquires-Mobile-Travel-Technologies-for-Euro-55-million | work=Phocuswire | date=8 July 2015}}
On March 10, 2023, the company acquired Deem from Enterprise Holdings for an undisclosed amount. {{Cite press release |last=Travelport |title=Travelport Acquires Deem, Furthering its Investment in Modern Retailing and Corporate Travel |url=https://www.prnewswire.com/in/news-releases/travelport-acquires-deem-furthering-its-investment-in-modern-retailing-and-corporate-travel-301768661.html |access-date=2023-03-10 |website=www.prnewswire.com |language=en}}
Awards
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.{{cite news | last=McDonald | first=Michele | title=Travelport is first GDS to receive Level 3 NDC certification from IATA | url=https://www.phocuswire.com/Travelport-is-first-GDS-to-receive-Level-3-NDC-certification-from-IATA | work=Phocuswire |date=13 December 2017}} In 2018, it became the first GDS operator to manage the live booking of flights using the NDC standard.
Acquisition
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.
References
{{Reflist|1}}
External links
- {{commons category-inline}}
{{Blackstone Companies}}
{{Major travel technology companies}}
Category:2006 mergers and acquisitions
Category:2007 initial public offerings
Category:2014 initial public offerings
Category:2019 mergers and acquisitions
Category:Blackstone Inc. companies
Category:Companies based in Slough
Category:Companies formerly listed on the New York Stock Exchange
Category:Computer reservation systems
Category:Hospitality companies established in 2001