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TravelClick sold to private equity firm
Travel technology provider TravelClick has been bought by a private equity investment firm for $930 million.
Thoma Bravo has acquired the global provider of cloud-based solutions for hotels from Genstar Capital.
The deal is expected to close within the next three months.
"The acquisition of TravelClick is consistent with Thoma Bravo’s strategy of investing in market leading companies with significant recurring revenue streams," said Holden Spaht, managing partner at Thoma Bravo.
"Larry Kutscher (TravelClick CEO) and his team have established an impressive track record of growingTravelClick rapidly and expanding the company’s services to its customers. We look forward to working with them to continue building on TravelClick’s position as the largest pure play provider of revenue enhancing technology to the hotel industry."
TravelClick provides cloud-based solutions for hotels that aim to increase revenue, reduce cost, improve performance and create a strong brand.
The Company’s suite of products and services include: Reservations Solutions, Business Intelligence Solutions, Media Solutions, Web Solutions, and Guest Management.
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Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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