Mergers and Acquistions News
Categories: Media & Information Services
February 10th 2011, 16:57PM
Amadeus, the Spanish travel booking software firm, has sold Opodo, the online travel agency, to private equity groups AXA and Permira in a deal valued at approximately €500 million (about £425 million).
Reports say Opodo is Amadeus' smallest business, and as such is considered non-strategic to the firm.
Private equity giant the Carlyle Group is also believed to have put in a bid for Opodo.
As part of the deal, Amadeus has signed a 10-year agreement to provide technology services to Opodo, eDreams and GoVoyages. Permira acquired eDreams last July and AXA purchased GoVoyages last May.
Providing customers flight and hotel bookings, Opodo has websites across Europe, offering access to more than 500 airlines and over 65,000 hotels, with car hire and package holidays also.
With offices in Paris, Frankfurt, London, New York, Singapore, Milan, Zurich and Vienna, AXA has $25 billion in assets.
Permira has made over 190 private equity investments that have returned €16 billion to investors since it was founded in 1985.
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