Accelya, a leading provider of financial and commercial solutions to the airline industry, and Mercator, a global provider of product-enabled solutions to the travel and transportation industry, today announced their intention to combine, creating a leading global technology-enabled solutions provider to airlines, travel agents and freight forwarders. Terms of the transaction were not disclosed.
Together, Accelya and Mercator will offer a broadened product portfolio with complementary offerings including revenue accounting, revenue management and revenue assurance, cargo management, payment solutions, data analytics, cost management and commercial solutions. Customers of Accelya and Mercator will benefit from enhanced product and technology capabilities, which will ensure the continued development of innovative solutions for the travel industry. With a global footprint and more than 400 clients worldwide, including 250 airlines, the new company will be at the forefront of automation, helping customers manage their financial processes more efficiently, minimizing revenue leakages, reducing operational costs and optimizing management of their indirect distribution channel. The combined company will have pro forma annual revenues in excess of $200 million, with the scale to make investments in products and technology in order to remain at the cutting edge of innovation and service quality.
John Johnston, CEO of Accelya, commented, “Accelya has always focused on delivering exceptional customer service and I believe that together with Mercator, our customer offering will be significantly broadened. I am excited about the opportunity to work together with the Mercator team to drive further growth, expand the product offering and introduce new technologies.
Cormac Whelan, CEO of Mercator, commented, “The combination of Mercator and Accelya will deliver tremendous value to our customers through enhanced and broadened solutions, together with a significant focus on new product development. I look forward to working with John as we integrate the two companies.”
Warburg Pincus, a global private equity firm focused on growth investing, will be the majority shareholder in the combined company following its acquisition of Accelya from Chequers Capital. Members of management will also have ownership interests in the combined company.
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Full Article: Mercator News Room
Source : Mercator News Room