Travelsoft is continuing its acquisition spree with a further three acquisitions.
B2B accommodation connectivity provider TravelgateX joins Travelsoft alongside reservation technology specialist Atcore Technology and Travel Connection Technology.
Terms of the deals have not been disclosed but a statement said, "These acquisitions were enabled thanks to the significant reinvestment by Christian Sabbagh [CEO of Travelsoft] and Capza, who strongly believe in the potential of this combination and the great opportunities it will trigger for the group."
Travelsoft's portfolio now offers front and back-office technology for the leisure travel industry. The group has a 600-strong workforce, according to a statement, and recurring revenues of €100 million a year.
The latest transactions come on the heels of Travelsoft's recent acquisition of Eventiz Media Group, which owns travel trade publications and runs events. In line with Travelsoft's strategy, all brands will remain alongside management teams who retain autonomy.
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Sabbagh, founder and CEO of Travelsoft, said, “These three acquisitions represent a quantum leap for us as we take a giant step forward in our mission to become the global leader in travel SaaS. But we won’t stop here and remain committed to further growth through both innovation and further acquisitions too.
"The addition of TravelgateX, Atcore Technology and Travel Connection Technology, each with cutting-edge technology and outstanding leadership teams, further increases our value and relevance to clients and supplier partners around the world – whilst creating many synergies and innovation opportunities within the group that partners will quickly benefit from.”
Guillaume Basquin, Partner of Capza Flex Equity Mid-Market, said, "We are thrilled to announce this significant milestone for Travelsoft, which enables the group to more than double its size just eight months after our initial investment. This achievement will considerably strengthen the group’s leadership in Europe particularly. Backing talented and visionary founders like Christian and managers in their efforts to consolidate their market internationally forms the DNA of our flexible investment strategy. This will also accelerate our ESG roadmap to provide our customers with best-in-class green travel services.”
Travelsoft also acquired Travel Compositor in 2023 and Traffics in 2022.