777 Partners, a
Miami-based investment firm, is acquiring two travel technology companies – Tel
Aviv-based AeroCRS and Copenhagen-based WorldTicket.
Terms of the acquisitions have not been disclosed.
The two companies join 777 Partners’ growing portfolio
of airlines and travel technology firms, which includes the 2019 acquisition of
Air Black Box and investments in Flair Airlines and Australian startup airline
The firm says with these latest acquisitions it will
form a new travel group to offer a suite of products to airlines and travel
companies, focused on improving travel retailing, distribution, interlining and
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“Changes within the travel sector
have created an unprecedented opportunity for a new wave of highly disruptive
companies focused on the latest retailing technology to partner with the wider
travel community,” says Joshua Wander, founder and managing partner of 777 Partners.
Founded in 2006, AeroCRS serves 90 airlines globally
with passenger service systems, fare and inventory management, distribution
solutions and analytics. WorldTicket, founded in 2002, provides passenger
service solutions, distribution, retail and ticketing solutions and inventory hosting
to more than 75 airlines around the world.
"Over the last two years, we have been focused on architecting and
building a platform of interoperable, modular products, which enable airlines,
airports, and other travel companies to evolve their business models and regain
control of passenger relationships by unencumbering themselves from legacy
systems. These acquisitions significantly advance that effort,” says Adam
Weiss, CEO of 777 Partners’ travel group.