Thoma Bravo to acquire TravelClick
Private equity firm Thoma Bravo is to acquire TravelClick, a provider of revenue generating cloud-based solutions for the USD500bn global hospitality industry.
Thoma Bravo has agreed to acquire TravelClick from Genstar Capital for USD930m. The transaction is expected to close in the second quarter of 2014.
“The acquisition of TravelClick is consistent with Thoma Bravo’s strategy of investing in market leading companies with significant recurring revenue streams,” says Holden Spaht, managing partner at Thoma Bravo. “Larry Kutscher and his team have established an impressive track record of growing TravelClick rapidly and expanding the company’s services to its customers. We look forward to working with them to continue building on TravelClick’s position as the largest pure play provider of revenue enhancing technology to the hotel industry.”
TravelClick provides cloud-based solutions for hotels around the globe that increase revenue, reduce cost, improve performance and create a strong brand. The company's suite of products and services include reservations solutions, business intelligence solutions, media solutions, web solutions, and guest management. TravelClick’s network of local market hotel experts, based around the world, work directly with hoteliers to deliver the right technology platforms to optimise hotel performance.
“TravelClick has experienced phenomenal growth over the last several years, and we look forward to working closely with the Thoma Bravo team to help facilitate our continued trajectory,” says Larry Kutscher, CEO of TravelClick. “We have been focused on providing our customers with the best in technology services, data analytics and customer support, and are confident this partnership will only increase our ability to serve our 37,000 hotel clients around the world. Empowering hotels from large brands and chains to individual properties to better manage their inventory and to drive bookings is at the core of our business."
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