Total transaction value of US$39.4 million
DUBLIN, IRELAND – May 6, 2016 – TravelSky Technology Limited, the world’s third largest Global Distribution System and a leading provider of information technology solutions for China’s air travel and tourism industries, today announced that it has acquired OpenJaw Technologies, the leading online technology partner to the world’s biggest travel brands. The total transaction value is US$39.4 million (equivalent to approximately HK$305.6 million). Upon completion, OpenJaw becomes a wholly-owned subsidiary of TravelSky.
Headquartered in Beijing, TravelSky Technology provides software and related services to the aviation and travel industries in the People’s Republic of China. Its services include electronic travel distribution, airport passenger processing, reservation system maintenance, e-ticketing, and information management for airlines. Since its founding in 2000, TravelSky has grown revenue to over $840 million and is now one of the three largest global providers of travel distribution services and technology, and is the largest in China.
OpenJaw, headquartered in Dublin, Ireland, provides bookings and travel packaging software that is integrated into a comprehensive online retail platform called the t-Retail Platform. OpenJaw is a key player in global travel technology, serving airlines, hotels, loyalty programs and OTAs, with customers including Cathay Pacific, British Airways, Hainan Airlines, and others.
“OpenJaw is very excited by the opportunities that this acquisition brings with the goal of providing an industry leading product portfolio for
airlines, travel suppliers, distributors and retailers.” said Ricardo Navarro, Managing Director, OpenJaw Technologies.
The acquisition of OpenJaw will provide TravelSky with an industry leading software platform to better serve Chinese carriers, and also give TravelSky a base for expansion globally.
TravelSky Technology Limited is the dominant provider of information technology solutions for China’s aviation and travel industry. The Group has been devoted to developing leading products and services that satisfy the needs of all the industry participants – ranging from commercial airlines, airports, air travel products and services suppliers to travel agencies, corporate clients, travelers and cargo shippers – to conduct electronic transactions and manage travel-related information. The core businesses of the Company include aviation information technology service, distribution information technology service, clearing and accounting and settlement service for aviation industry, etc.
OpenJaw Technologies Limited is a leading online technology partner of the world’s biggest travel brands. Guided by the OpenJaw four principles of t-Retailing, and leveraging the power of the dynamic travel retailing platform, the t-Retail Platform, OpenJaw is dedicated to helping airlines, and other large travel companies, to become travel retailing innovators. The OpenJaw customer portfolio includes: British Airways, TravelSky, Aeroplan, AIR MILES, Four Seasons Hotels & Resorts, voyages-SNCF.com, and Viajes El Corte Ingles. Founded in 2002, OpenJaw is headquartered in Dublin (Ireland), and has offices in Galway (Ireland), Madrid (Spain), Kraków (Poland) and Hong Kong.