Travel software-as-a-service (SaaS) group Travelsoft today announced the acquisition of Travel Compositor, a provider of B2B booking engines for travel companies, as part of the group's strategy to become the world leader in travel SaaS.
Spain-based Travel Compositor is known for its 'multi-destination' booking engines and is well established in Southern Europe, as well as growing in emerging markets such as Latin America and Asia.
Founded in 2014, Travel Compositor has 90 employees and operates on a SaaS model, generating €1 billion in bookings and €11.5 million in annual revenue.
Travel Compositor thus becomes the third company in the Travelsoft group, founded in Paris in 2000 and specializing in software that makes it easier for the tourism sector to sell travel packages by automating production and booking, efficient data management for marketing and increased conversion rates.
With the inclusion of Travel Compositor, the group will now process reservations worth 5,000 million euros per year through more than 300 tour operators connected to 600 providers in more than 40 countries, mainly in Europe and America.
With more than 200 travel technology-savvy employees around the world, Travelsoft will generate revenue of more than €35 million (including €32 million Annual Recurring Revenue (ARR)) and have strong R&D investment capacity. D of more than 5 million euros per year.
In 2022, the company acquired the German company Traffics, founded in 1999 and which provides innovative and customer-oriented development of consulting, search and reservation systems for more than 6,000 travel agencies as well as renowned travel portals, airlines, hotels and travel providers; the company has more than 1,500 million euros in sales of intermediated trips per year.
For its part, Travelsoft is also the holding company of the French Orchestra, founded in 2000 and which allows travel professionals to produce, manage, distribute and manage a complete leisure offer -including packages, hotel nights, plane tickets, dynamic packages and "à la carte" - in all distribution channels, with 2,500 million euros of travel sales per year through its platform.
Each of the Travelsoft Group companies - Travel Composer, Traffics and Orchestra - will maintain strong autonomy, including maintaining their names and brands, and will benefit from implementing inter-company synergies that make the most sense in their respective products and markets.
Manuel Aragonés, co-founder of Travel Compositor, says: "We are very happy to join such a global project to further develop our technology and our business. Less than nine years after the creation of Travel Compositor, we are entering an exciting new phase. accelerated growth in Europe, Latin America and Asia."
For his part, its co-founder Vicente Rosselló sees "significant potential for synergies and new developments between the different platforms of the Travelsoft group, especially in terms of direct connectivity with airlines and hotels and in the various innovations that are yet to come."
Christian Sabbagh, Founder and CEO of Travelsoft, adds: "We share with Manuel and Vicente an entrepreneurial culture that has facilitated this merger and we welcome them to our group. It is a new step in Travelsoft's strategy of serving its clients in all geographies with platforms tailored to each ecosystem and sharing best practices. The need for booking platforms is growing and we see many opportunities for consolidation, so stay tuned for more acquisitions as we build the world's leading travel SaaS."
As a result of the most recent acquisition:
Christian Sabbagh, founder and Chairman of Travelsoft, remains Travelsoft's majority shareholder, along with the two founders of Travel Compositor (Manuel Aragonés and Vicente Rosselló), as well as the two founders of Traffics (Salim Sahi and Jens Muskewitz).
Shares of startups MOGU and Top Group Express, owned by Travel Compositor, will also become part of Travelsoft.
Investors who participated in Travel Compositor's only fundraising round in 2016 -among them Caixa, Capital Risk, Inspirit (Didac Lee), Hotusa Ventures and Venture Cap II- will leave 100%, multiplying their investment between 12 and 15 times.
The operation has been possible thanks, in particular, to the teams of Cambon Partners, Ennea Capital Partners, the company PGA and all the following participants:
Acquirer: Travelsoft (Christian Sabbagh, Nathalie Eveleigh)
Sellers: Travel Compositor (Manuel Aragonés, Vicente Rosselló, Miguel Ángel Garoz) M
&A Advisor to Buyer: Cambon Partners (Morgann Lesné, Min Liu, Maxime Wuthrich, Simon Bozec
) Mergers and acquisitions of the seller: Ennea Capital Partners (Simon Schiller, Jan-Frederik Valentin, Karla Pons, Francesco Terragni) Acquirer
Company lawyer: Piotraut Giné Avocats (Raphaël Piotraut, Myriam Zendjebil)
Financial and tax due diligence of the buyer: EY (Adolfo Becerril De La Fuente, Borja Suárez, Adrián Rincón Gutiérrez)
Legal Due Diligence of the Purchaser: Cuatrecasas (José Luis Gaudier, Xavier Morera, Isabel Gandoy, Juan Cervantes)