Newmarket International sold to Amadeus
Newmarket International, the hotel and events IT company, has been bought for $500m.
The company, based in Portsmouth, New Hampshire, is now part of the worldwide portfolio of Amadeus, the global travel technology business.
The deal will be completed by the end of March 2014 and is in line with Amadeus’ strategy of diversification into new business areas and the deal significantly strengthens its presence in the hotel IT market.
Newmarket International is a leading provider of cloud-based group and event IT solutions to the hotel industry.
The acquisition will add established customer relationships of around 22,000 unique properties to Amadeus’ existing hotel portfolio.
Amadeus president and chief executive Luis Maroto said: "This important and strategic acquisition will strengthen Amadeus’ position in the hotel IT sector, bringing important expertise and key customer relationships to the company that will accelerate our move into this key market."
Newmarket president and chief executive Jeff Hiscox said: "We have built a profitable and successful business that is the undisputed leader in our market segment and by joining Amadeus we have the ideal platform to take that success to the next level and extend our leadership in hotel IT solutions".
Newmarket will be operated as a stand-alone business within Amadeus’ Global Hotel Group.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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