At the end of May-2019, five-and-a-half months after it was first announced, travel technology specialist Travelport entered private ownership following the completion of its acquisition by affiliates of Siris Capital Group and Evergreen Coast Capital in an all-cash transaction valued at approximately USD4.4 billion.
The deal had been approved by its shareholders in Mar-2019 and has now seen its common shares delisted from the New York Stock Exchange. Gordon Wilson, President and CEO of Travelport believes the deal will help Travelport to execute “an exciting new phase of innovation and industry leadership” as it continues to transform its business
“We have commenced building a great relationship with the Siris and Evergreen teams. We now look forward to working closely alongside them as we continue to develop and invest in our platform to serve the evolving needs of our customers,” he explains.
Speaking at the recent CAPA – Centre for Aviation Airline CEOs in Seoul Summit in South Korea shortly after the long-awaited conclusion of the deal, Mr Wilson acknowledged the privatisation was “very positive for our company”.
He pointed out that being in the private world enables it to change and adapt without being concerned about quarterly reports and Wall Street. This, he noted, was particularly important with changes in airline distribution such as NDC. Mr Wilson added there is nothing intrinsically wrong with the public world but said that having only two shareholders meant decisions can be made more easily.
HEAR MORE… from Travelport President & CEO, Gordon Wilson in this exclusive CAPA TV interview. He shares his views on future plans for the GDS, provides an update on Travelport’s own NDC offering and discusses the value it provides to agents and airlines all over the world.