Following Sabre Merger Collapse, Farelogix Enters Into Agreement With Accelya
Anna Kroupina, Open Jaw
John Johnston, CEO of Accelya.
Barcelona-based Accelya has entered into a definitive agreement to acquire Farelogix.
Farelogix was previously eyed foracquisition by Sabre, but the two companies terminated plans to merge after the agreement expired on 30APR, citing the U.K. decision that prohibited the transaction as the reason. Sabre initially announced plans to acquire Farelogix for US$360 million in NOV 2018.
The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close this summer. The deal would bring more than 300 skilled Farelogix employees, primarily based in Miami, into the Accelya team. Prior to closing, Accelya and Farelogix will continue to operate as separate businesses. Terms of the transaction were not disclosed.
Accelya has a 40-year history providing technology solutions to the global travel industry and manages IATA's settlement platform, according to a news release.Its product set – which includes solutions for revenue management, integrity, and accounting – is complementary to the technology solutions offered by Farelogix for airline retailing and NDC-enabled commerce. The companies say that together they are in a position to "drive innovation and advance all aspects of airline retailing", from offer through to settlement.
“The industry we serve is facing an unprecedented set of challenges requiring increased agility and integration,” said John Johnston, Chief Executive Officer of Accelya. “Accelya is at the forefront of travel and transport technology and our acquisition of Farelogix will enhance our capability to deliver an integrated Offer-to-Settlement platform and provide innovative solutions and greater choice for airlines worldwide.”
Jim Davidson, CEO of Farelogix, said the acquisition represents “a tremendous opportunity for Farelogix and Accelya to accelerate innovation in technologies for airline retailing, commerce, order management, and financial settlement.”
The acquisition follows Vista Equity Partners' investment in Accelya.
“The combination of Accelya and Farelogix will create a next-generation digital platform to help support airline industry recovery and enable a new era in airline commerce powered by innovation, technology, and partnership,” said Robert F. Smith, Founder, Chairman, and CEO of Vista.
"Vista continues to believe in the resiliency and value of enterprise software, and in its long-term vision for Accelya, and we are pleased to take this next step on our journey with them."
Anna Kroupina Journalist
Anna is OJ's newest member and she joins the team as a writer/reporter. She co-writes the daily news and covers events. Although she's new to the industry, pursuing a career path in travel/tourism has been a goal since her first family road trip to the Florida Keys sparked a desire to discover the world and this exhilarating, fast-paced industry.