BARCELONA/DUBAI: February 04, 2017. Financial services provider Accelya is to merge with IT company Mercator to create a global technology-based service for airlines, travel agents and freight forwarders with combined annual revenue of US$200 million.
Terms were not disclosed and the deal is expected to close in the first quarter of 2017.
The two companies said they would be able to provide 250 airline customers - including United Airlines - with product options covering revenue accounting, revenue management and revenue assurance, cargo management, payment solutions, data analytics, cost management and commercial solutions.
Accelya CEO John Johnston said: "Accelya has always focused on delivering exceptional customer service and I believe that together with Mercator, our customer offering will be significantly broadened."
Warburg Pincus, a global private equity firm, will be the majority shareholder in the combined company following its acquisition of Accelya from Chequers Capital. Headquartered in New York, the company has more than US$44 billion in private equity assets under management in a portfolio of more than 130 companies.
Adarsh Sarma, a managing director of Warburg Pincus added: "We see very compelling growth opportunities in the combination of Accelya and Mercator. Together, these two best-in-class companies will provide an improved and broadened suite of products and services to their customers whilst continuing to be at the forefront of new product innovation and development."