Travelsoft Becomes Global Leader in Travel Technology with Three New Acquisitions

Travelsoft’s travel technology group today announces three further acquisitions – TravelgateX, ATCORE Technology and Travel Connection Technology – to become a global player in technology solutions for the leisure travel industry, with the group’s technology processing transactions worth €35 billion annually.

With the latest acquisitions, Travelsoft – which previously acquired Eventiz Group in May this year, Travel Compositor in 2023 and Traffics in 2022 – now has a global team of 600 specialists and recurring revenues reaching EUR 100 million per year and strong growth potential organic in front of you.

The new inclusion in the group means Travelsoft is now present in over 80 countries, with 400 major clients and 1,000 travel service providers worldwide.

As such, the group is positioned to address all the issues facing travel businesses – as well as destinations (DMOs) and tourism boards – through geographic expansion, increased synergies and greater innovation opportunities to deliver significantly higher value to its resilient customer base .

As with Travelsoft’s previous acquisitions, each of the group’s newest members will retain strong autonomy, including retaining their names, brand identities, management teams and technology platforms – with TravelgateX’s Pedro Camara and Sandra Chinappen, Dave Cruickshank, Andy Lennon and Mike Wright of ATCORE Technology and Alexandru Elisei of Travel Connection Technology all remained in their leadership positions and aligned with future connected projects.

These acquisitions were made possible thanks to the significant reinvestment of Christian Sabbagh and CAPZA, who strongly believe in the potential of this combination and the enormous opportunities it will open up for the group.

Christian Sabbagh, founder and CEO of Travelsoft, comments: “These three acquisitions represent a major milestone for us in achieving our mission to become the global leader in the SaaS travel industry. But we will not stop there and will remain committed to further development both through innovation and further acquisitions.

The addition of TravelgateX, ATCORE and Travel Connection Technology, each with cutting-edge technology and outstanding leadership teams, further enhances our value and relevance to customers and supplier partners around the world – while creating many synergies and opportunities for innovation within a group that partners rapidly will benefit from them.”

Guillaume Basquin, CAPZA Flex Equity Mid-Market Partner: “We are thrilled to announce this important milestone for Travelsoft, which has enabled the group to more than double in size just eight months after our initial investment. This achievement will significantly strengthen the group’s leading position, especially in Europe. Supporting talented and visionary founders and managers like Christian in their efforts to consolidate their market internationally is the DNA of our flexible investment strategy. It will also accelerate our ESG action plan to provide our customers with best-in-class green travel services.”

Moreover, Pedro Camara, founder and CEO of TravelgateX, notes: “Combining with six other great Travelsoft companies creates a group greater than the sum of its parts, which is an opportunity for mutual benefit that cannot be missed.”

Dave Cruickshank, CEO of ATCORE Technology, also adds: “We have admired Travelsoft for many years, and being part of the group is an exciting next step that will continue to drive our growth and innovation.”

Flor Kassai, Partner and Director of Inflexion’s Buyout Fund, commented: “We would like to thank the ATCORE team for their hard work and commitment throughout our partnership. We leave the company in safe hands so that it can continue to grow under new ownership.”

Finally, Alexandru Elisei of Travel Connection Technology says, “We are very excited to join the Travelsoft family and feel we have a lot to offer the group’s customers.”