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Warburg Pincus bought Spain-based airline IT firm Accelya from Chequers Capital, and will merge the firm with Mercator, former IT unit of Emirates Airline, which it bought in 2014. Warburg said that the combined business will create “a leading global technology-enabled solutions provider to airlines, travel agents and freight forwarders”. Warburg was prepared to pay EUR 650 million, outbidding rivals Bridgepoint and PAI Partners, reported Financial Times. The combined business will have pro forma annual revenues in excess of USD 200 million, secured from 400 clients, of which 250 are airlines. |
