Travelport seals Asian acquisition
Monday, 19 May, 2010
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Singapore-based hotel and travel search engine Sprice.com has been acquired by Travelport for an undisclosed sum.
The deal will enable Travelport to expand its hospitality offering by providing Galileo and Worldspan-connected agents with access to Sprice’s portfolio of more than 240,000 hotels, as well as property reviews, merchandising options and comparison tools.
Travelport expects to deliver a broader range of hotel options to travel agency customers, supported by comparison features, as well as providing a technology platform for new content such as parking, events and attractions and dining.
Sprice’s search technology will be used to enhance its GDS channels, enabling the company to deliver and distribute richer, more diverse supplier content to its subscriber customers.
Its direct to consumer offering provides Travelport with “valuable insight” into traveller shopping and booking behaviors.
While based in Singapore, Sprice has an office in Strasbourg. All 18 staff have been extended offers of employment at Travelport.
Sprice, founded in 2006, will be managed under the recently announced Consumer and New Ventures group within Travelport.
Sprice was previously backed by two leading venture capital firms, Sofinnova Partners and Walden International.
Travelport deputy CEO Gordon Wilson said: “With Sprice, Travelport has acquired firstly, a highly innovative proven technology platform that is deeply synergistic to our GDS business, enabling us to deliver and distribute more content and secondly, an established and vibrant inventory of hotel options and comparison tools that will significantly add to our existing hospitality portfolio.
“Along with these significant assets comes the intellectual capital of the Sprice team, a group of very bright and talented executives who we are pleased to have join our company.”
Sprice co-founder and CEO Jerome Thil said: “Bringing together Sprice’s meta search technology and Travelport’s powerful GDS transaction processing capabilities creates great synergy and the potential for new development and innovation, charting an exciting new path forward for us.”
by Phil Davies
Phil Davies
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