Dublin-based Mobile Travel Technologies (MTT) has been taken over by Travelport for an undisclosed sum.The acquisition was funded from Travelport’s cash resources.
Travelport said it issued grants totalling €14.4 million to 28 MTT executives, to be paid in the first quarter of 2018 in Travelport common shares based on performance targets and other terms and conditions.
MTT clients include easyJet, Singapore Airlines, Saudia, BCD Travel, Capita Travel and Events and the LATAM Airlines Group.
The company provides a mobile travel platform and product set that allows airlines, hotels, corporate travel management companies and travel agencies to connect with customers through tailored mobile services including apps, mobile web and intelligent mobile messaging.
Its mobile apps and services are delivered to smartphones, tablets and wearable devices, including the Apple Watch.
Gordon Wilson, president and chief executive of Travelport, said: “It is a natural extension of Travelport’s strategy of redefining travel commerce to have acquired, what we believe to be, the largest and most successful company focused on delivering sophisticated mobile services and apps to the travel industry.
“Adding MTT as an expanded capability to our existing travel commerce platform extends our reach further, and at the higher value add end of the service spectrum for our airline, hotel, travel management company and travel agency clients.
“At the same time, MTT will benefit from the network effect of Travelport in terms of infrastructure, our relationships with additional prospective clients and access to our industry leading content.
“We will run MTT as a wholly owned subsidiary of Travelport, retaining existing chief executive, Gerry Samuels, along with his senior team, so that they can maintain their singular focus on the mobile sector and the deep seated customer relationships they build.”
Samuels added: “Becoming part of the Travelport family will enable MTT to accelerate what we are already doing in the travel industry – bringing cutting edge mobile innovations to airlines and travel intermediaries so that they can better serve the end traveller with innovative and personalised mobile services that transform the travel experience.
“MTT has experienced very significant growth as the market and demand for mobile travel has expanded and there is enormous potential to grow further.
“Now with the support of a global industry leader such as Travelport, we will be even better placed to capitalise and expand into the considerable opportunities we see ahead of us.”