Travelsoft becomes a global leader in traveltech after three new acquisitions

TravelgateX, ATCORE Technology and Travel Connection Technology join Travelsoft to create a global tourism technology company, with platforms that cover all the software and back-office needs of the global tourism industry

(Source: Hilton)

Travelsoft, the travel technology group, today announced three acquisitions: TravelgateX, ATCORE Technology and Travel Connection Technology. With these acquisitions, it becomes a global player in technological solutions for the leisure tourism sector, whose technology processes 35 billion euros in annual transactions.

Travelsoft, which acquired Eventiz Group in May of this year, Travel Compositor in 2023 and Traffics in 2022, now has a global team of 600 professionals and recurring revenues reaching €100 million annually, with great potential for organic growth in front.

The recent additions to the group allow Travelsoft to have a global presence in more than 80 countries, with 400 highly relevant clients and 1,000 tourism providers around the world.

In this way, the group will be able to address all the challenges faced by tourism companies, in addition to destinations (DMO) and tourism offices, through this expansion of the geographical footprint, the increase in synergies and opportunities of innovation to provide greater value to its customers.

As with previous Travelsoft acquisitions, each of the latest additions to the group will retain significant autonomy, including maintaining their names, corporate identity, management team and technology platforms, with Pedro Cámara and Sandra Chinappen of TravelgateX; Dave Cruickshank, Andy Lennon and Mike Wright of ATCORE Technology; and Alexandru Elisei from Travel Connection Technology. All of them will remain in their current management positions and aligned with the company's projects for the future.

These acquisitions have been made possible thanks to significant reinvestment by Christian Sabbagh and CAPZA, who firmly believe in the potential of this combination and the great opportunities it will unlock for the group.

Christian Sabbagh, founder and CEO of Travelsoft, comments: “These three acquisitions represent a quantum leap for us, as they represent a major step forward in our mission to become the global leader in travel SaaS. However, we will not stop here, we will remain committed to further growth both through innovation and new acquisitions.”

“The addition of TravelgateX, ATCORE Technology and Travel Connection Technology, each with cutting-edge technology and exceptional management teams, further increases our value and relevance to customers and partners around the world, while creating many synergies and innovation opportunities within the group in which partners will quickly benefit.”

Guillaume Basquin, Partner at CAPZA Flex Equity Mid-Market: “We are delighted to announce this important milestone for Travelsoft, allowing the group to more than double its size just 8 months after our initial investment. This achievement will considerably strengthen the group's leadership in Europe in particular. Supporting talented and visionary founders like Christian and management in their efforts to build their market internationally is the DNA of our flexible investment strategy. This will also accelerate our ESG roadmap to offer our clients best-in-class green travel services.”

For his part, Pedro Cámara, founder and CEO of TravelgateX, comments: “Joining the other six excellent Travelsoft businesses represents a group greater than the sum of its parts, which represents a great opportunity from which we will all benefit.”

Dave Cruickshank, CEO of ATCORE Technology, adds: “We have admired Travelsoft for many years and joining the group is a very exciting step that will undoubtedly drive our growth and innovation even further.”

Finally, Alexandru Elisei of Travel Connection Technology says: “We are very happy to join the Travelsoft family and believe we have a lot to offer the group's customer base.”

© Copyright 2022.
950 Brickell Bay Drive, suite 1811, Miami, FL, 33131. USA | Ph: +1 305 432-4388