Warburg Pincus has bought Barcelona-based airline IT firm Accelya from Chequers Capital, and will merge it with Mercator, the former airline IT unit of Emirates, which it bought in 2014.
In a statement, Warburg said that the combined business will create "a leading global technology-enabled solutions provider to airlines, travel agents and freight forwarders".
Financial details of the Accelya buy-out are undisclosed. The Financial Times, which got wind of the deal late last week, reported that Warburg was prepared to pay €650 million, outbidding rivals Bridgepoint and PAI Partners.
The combined business will have pro forma annual revenues in excess of $200 million, secured from 400 clients, of which 250 are airlines.
Accelya management will have a stake in the combined entity. Chequers Capital, a European investment firm, bought the business in 2007 for a reported €200 million.