Pegasus Solutions concluded a merger with an equity group led by Prides Capital Partners, LLC, including entities affiliated with Prides, Tudor Investment Corporation and Belfer Management.
The merger was valued at $275 million.
Said John F. Davis III, president and CEO of Pegasus:
“Our focus will continue to be on delivering technology and business process solutions that help hotels and travel distributors come together to maximize revenue and profitability.”
“We will maintain the same service lines and products and will continue to focus on improving those products and the speed with which we bring them to market,” added Bob Poles, Pegasus’ chief operating officer.
The Dallas-based Pegasus Solutions provides technology and services to hotels and travel distributors. Founded in 1989, the company’s customers include a majority of the world’s travel agencies and more than 60,000 hotel properties around the world.
Report by David Wilkening
