Peakwork, a specialist in dynamic packaging technology has been acquired by Constellation Software for an undisclosed sum.
Germany-based Peakwork joins Constellation’s Vela Software division, one of six that focus on travel, aviation and other sectors.
Peakwork will continue to operate independently with the same team, although Ralf Usbeck, CEO and co-founder, is stepping back from the CEO role.
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Usbeck said: "Joining Constellation will give Peakwork exclusive access to many global industry specialists and resources, which will strengthen Peakwork’s leading travel distribution solutions and services. Constellation Software represents the perfect match and best home for Peakwork as they recognize the power and strengths of the Peakwork network and are committed to its long-term expansion.”
He joins the board of Constellation and Vela Software-parent Juniper Group as a strategic adviser.
Peakwork’s current chief of staff and vice president of business development, Manuel Saballus, will take over as CEO.
Jaime Sastre, CEO of Juniper Group, said: "Peakwork will play a principal role within our portfolio of travel software companies, adding a senior and very talented management team and high-performing technology stack to our group. Together, we will be able to offer better solutions and cover all the IT needs of our customers and partners."