Farelogix gets $6m funding
Farelogix Inc. received $6 million in funds from Sandler Capital Management which the company says it will spend on establishing a world-class executive team, bolstering sales and enhancing its pricing platform.
The Toronto-based company also plans to relocate its corporate headquarters to Maimi.
Farelogix is a provider of independent faring and multi-source distribution technology to the global travel industry.
Company officials said the funding will also be used for continued enhancement of its FLXT Platform and independent faring and pricing applications.
In a related move, President and CEO Jim Davidson announced that Michael Marocco was named to the board of directors. Mr Marocco is senior managing director and head of private equity investing at Sandler Capital Management.
Farelogix was founded in 1998. Its clients include American Express and Carlson Leisure Group.
Report by David Wilkening
David
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