Vayant Travel Technologies Inc. has been acquired by PROS.
The Bulgarian-based flight search tech vendor has been bought for US$35 million by Houston-based revenue management and cloud software firm PROS.
The airfare search solutions website said it hoped its buyout would accelerate growth and “maximize our contribution to the travel industry”.
Vayant has been a pioneer of IATA New Distribution Capabilities while PROS has a focus on artificial intelligence.
“We are glad to see all our customers, partners and employees finding a new home within the PROS family,” chief executive officer Eric Dumas wrote in a blog post.
He added: “Our partners and customers will highly benefit from this consolidation with a larger investment and a broader team that will contribute to the extension, improvement and support of Vayant solutions to accelerate and scale up the geographical reach.”
He said that being part of PROS would help Vayant deliver more value to its customers and will support airlines and OTAs in speeding up their digital transformation.
“Shopping and pricing are certainly among the most complex pieces of technology in the travel industry,” Dumas said. “Innovation is difficult and does not follow a linear path. But our team has always had the fantastic capability of striving to succeed even when it seems impossible, because customer satisfaction has been at the heart of everything.”
PROS chief technology officer Rob Reiner said: “Together with Vayant, PROS cloud solutions will enable airlines to maintain and leverage the integrity of their revenue management strategies and add powerful new modern commerce experiences for passengers.
“With Vayant, we see an opportunity to deliver tremendous value to the travel industry with a robust and complete offer optimization solution. We are excited to welcome a team that shares our culture and our passion for innovation and customer success.”