Amadeus acquires hotel IT firm
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Amadeus has acquired Newmarket International for US$500 million to drive growth in the hotel IT sector.
The new deal for the cloud-based group and event IT solutions company will strengthen Amadeus’ hotel platforms and allow them to tap into Newmarket’s clients.
“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,” said Luis Maroto, president and CEO of Amadeus. “With many hotel chains at a crossroads in their IT strategy, and the provider landscape fragmented, Amadeus is committed to playing a key role in partnering with the hotel industry to address its challenges and this transaction will greatly accelerate that objective.”
Newmarket, which is based in New Hampshire in the US, works with around 22,000 hotels in 154 countries and will be operated as a stand-alone business within Amadeus’ Global Hotel Group.
Newmarket is estimated to see revenues of US$110 million in 2013 and EBITDA margin of 31%.
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