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Datalex increases Yatra stake to 100%
Technology solutions firm Datalex has taken full control of troubled US based corporate travel management solutions firm Yatra.
The move was widely expected after Datalex’s 50% holding in the company forced it to take a $5.4 million hit on its investment in the firm during the last quarter of 2001 after Yatra suffered a downturn in business following September 11.
Datalex initially took a 50% stake in Yatra in November 2000. It said the new agreement will result in a “closer integration of Yatra’s capabilities and expertise with Datalex’s global operations.” The Yatra corporate solution is built on Datalex’s BookIt! MATRIX, the core Datalex technology component that provides the integration infrastructure to Datalex’s suite of travel solutions.
Datalex chief executive Neil Beck said: “The expertise and experience of the Yatra team is an important addition to the Datalex family as we deliver on our commitment to develop new channels and provide added value to existing clients.”
See our previous story:
20 Feb 2002: Datalex Q4 results hit by September 11 effect
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