Warburg Pincus has sealed the sale of airline financial, commercial and analytic tech business Accelya to fellow buyout house Vista Equity Partners in a deal said to be worth almost $1.5bn.
The deal comes five years after Warburg carved out a business called Mercator from Emirates Airline Group, before a reverse merger with Accelya in 2017 which tripled revenues at the combined company.
PE News reported the buyout price was close to $1.5bn, citing an unnamed source.
Vista’s investment in Accelya is the first from its permanent capital investment fund Vista Equity Partners Perennial, which it says is focused on growing industry-leading vertical software companies through long-term investments in product expansion and feature enhancement.
Vista founder and CEO Robert Smith said, “Accelya is at the forefront of innovation and positioned to shape the airline and travel industry for decades to come, making it an exceptional first investment for Vista’s Perennial Fund.”
“We look forward to working with John and the talented management team at Accelya to identify further opportunities for growth as they continue to serve the leading airlines, travel agents, and shippers across the world.”
Accelya currently has more than 200 airline customers, and operations spread across 14 countries.
It offers a modular suite of technology solutions for air travel, from offer to settlement, solving critical business problems for airlines, travel agents and industry bodies such as IATA.
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