Dubai-based travel technology specialist Illusions has announced it is in advanced negotiations to buy Polish travel technology firm anixe for an undisclosed sum.
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Ambitious Illusions closing in on first European travel tech buyout
Dubai-based travel technology specialist Illusions has announced it is in advanced negotiations to buy Polish travel technology firm anixe for an undisclosed sum.
The deal was announced at the FVW Travel Technology Day in Cologne, Germany.
It will further open up the European market for Illusions, which it has stated it has ambitions to dominate, as well as giving it access to specialist technology and hotel content.
Anixe specialises in distributing global hotel product to the European and UK travel trade.
Faisal Memon, founder and chief executive of Illusions, said anixe will enhance its core product and its global travel marketplace, the i-World Travel eXchange (iWTX).
He said: “It was anixe’s technology, customers, infrastructure, distribution strength and crucially, its team of technology experts, headed up by a very smart CEO, that clinched the deal and I believe we can grow this into a much bigger business.
“The product and distribution capabilities of anixe will grow iWTX’s hotel inventory to exponential proportions, with our combined offering amounting to a staggering half a million unique hotels.”
Anixe’s headquarters in Wroclaw will become Illusions’ first office in Eastern Europe and its second on the continent following the opening of a Lisbon office last week.
Memon added: “Setting up a satellite office in Poland demonstrates our commitment to the European market, in particular Germany, and brings us much closer to our key clients, allowing us to meet their needs more effectively.”
Piotr Zolnierek, founder and chief executive of anixe, said: “We share the same attitude to management and business and there are huge synergies between our two businesses.
“At anixe we have some unique inventions that Illusions can market and sell and with the expertise of our two companies combined, we will create a technology firm like no other.
“With this acquisition comes a number of enhancements to our platform, with functionality and out-of-the-box solutions for the global travel industry that will set us apart in this competitive market place.”
