Travelport a global technology company focused on powering travel bookings for travel suppliers worldwide, has received as $200 million investment from the company’s owners, Siris Capital Group and Elliott Management.
The new injection of capital aims to allow the company to continue its growth strategy, following its acquisition of Deem. The $200 million investment, along with a recent refinancing that received the support of 100 percent of Travelport’s first lien lenders and lowered the company’s cash interest expense, provides Travelport with significant liquidity.
“The $200 million investment from our owners, Siris Capital Group and Elliott Management, reflect their confidence in Travelport and the continued recovery of the travel industry,” says Greg Webb, CEO of Travelport. “The main advantage of private equity ownership is agility, which is crucial in a rapidly changing environment. This investment will allow Travelport to further advance its tech innovations, while fueling the company’s momentum.”