Travelsoft makes ‘quantum leap’ with three travel tech acquisitions

Travel tech group Travelsoft is targeting further growth after acquiring three companies: Spain’s TravelgateX, Atcore Technology from the UK and Romania-based Travel Connection Technology.

The group said the acquisitions means it becomes a global player in technology solutions for the leisure travel industry, as it processes €35 billion in transactions annually.

Travelsoft acquired Eventiz Group in May, Travel Compositor in 2023 and Traffics in 2022.

The latest acquisitions mean Travelsoft has a presence in more than 80 countries, with 400 major clients and 1,000 travel suppliers globally.

As with previous Travelsoft acquisitions, each brand will maintain autonomy, keeping their names, brand identities, leadership teams and technology platforms.

Pedro Camara and Sandra Chinappen from TravelgateX; Dave Cruickshank, Andy Lennon and Mike Wright from Atcore Technology; and Alexandru Elisei from Travel Connection Technology will remain in their leadership positions.

The acquisitions were possible thanks to “significant” reinvestment by Christian Sabbagh – founder and chief executive of Travelsoft – and investment firm Capza.

Sabbagh said: “These three acquisitions represent a quantum leap for us as we take a giant step forward in our mission to become the global leader in travel SaaS [software as a service].

“But we won’t stop here and remain committed to further growth through both innovation and further acquisitions too.

“The addition of TravelgateX, Atcore Technology and Travel Connection Technology, each with cutting-edge technology and outstanding leadership teams, further increases our value and relevance to clients and supplier partners around the world – while creating many synergies and innovation opportunities within the group that partners will quickly benefit from.”

Guillaume Basquin, partner of Capza Flex Equity Mid-Market, added: “We are thrilled to announce this significant milestone for Travelsoft, which enables the group to more than double its size just eight months after our initial investment.

“This achievement will considerably strengthen the group’s leadership in Europe particularly.

“Backing talented and visionary founders like Christian and managers in their efforts to consolidate their market internationally forms the DNA of our flexible investment strategy.

“This will also accelerate our ESG roadmap to provide our customers with best-in-class green travel services.”

Pedro Camara, founder and chief executive of TravelgateX, said: “Combining ourselves with Travelsoft’s now six other excellent businesses makes for a group greater than the sum of its parts, which is an unmissable opportunity to everyone’s mutual benefit.”

Dave Cruickshank, chief executive of Atcore Technology, added: “For many years we have admired Travelsoft and becoming part of the group is an exciting next step that will further drive our growth and innovation.”

Alexandru Elisei, chief executive of Travel Connection Technology, commented: “We are very excited to join the Travelsoft family and feel we have much to offer to the group’s customer base.”

Travelsoft now employs more than 600 travel technology experts worldwide, under seven brand names: Orchestra in France; Traffics in Germany and eastern Europe; Travel Compositor in Spain, southern Europe, LATAM and Asia; Eventiz Group in France; Atcore Technology in the UK; TravelgateX in Spain and Travel Connection Technology in Romania.

Picture: Undrey/Shutterstock

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