TravelClick, the cloud-based solutions provider for the hospitality sector, is changing hands between private equity firms in a deal worth $930 million.
Thoma Bravo acquires software provider TravelClick
TravelClick, the cloud-based solutions provider for the hospitality sector, is changing hands between private equity firms in a deal worth $930 million.
The business is being acquired from Genstar Capital by Thoma Bravo.
TravelClick clients include Hilton, Loews and Address Hotels & Resorts Dubai.
The deal is expected to the finalised in the second quarter of the year.
Chief executive Larry Kutscher said: “TravelClick has experienced phenomenal growth over the last several years, and we look forward to working closely with the Thoma Bravo team to help facilitate our continued trajectory.
“We have been focused on providing our customers with the best in technology services, data analytics and customer support, and are confident this partnership will only increase our ability to serve our 37,000 hotel clients around the world.
“Empowering hotels from large brands and chains to individual properties to better manage their inventory and to drive bookings is at the core of our business.”
Genstar Capital chairman and managing director Jean-Pierre Conte said: “Genstar launched its software industry focus seven years ago and this sale is a strong validation of our strategy of driving improvements in vertical market leaders.”
A.J. Rohde, principal at Thoma Bravo, said: “The hospitality technology market is becoming increasingly dynamic and complex, with customers requiring better analytical and revenue-enhancing tools.
“As global hotel providers look to maximise revenue per available room, TravelClick’s integrated suite of software, data, and marketing services is well poised to meet these needs, and we plan to support continued innovation to the highest degree.”
