Travelport takes majority stake in Locomote
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Travelport has increased its investment in Australian corporate travel technology start-up, Locomote, to 55%, becoming its majority shareholder.
The deal will now see Travelport’s Sandra McLeod become Locomote’s new CEO, while incumbent CEO Philip Weinman, who founded the company, steps into a role of vice chairman. Ms McLeod most recently served as Travelport’s group vice president of global accounts & corporate development.
Philip Emery, Travelport’s chief financial officer, has become Locomote’s new chairman.
Travelport initially invested in Locomote in 2013, in a bid to advance its capabilities in the area of digital and mobile services for the corporate travel sector.
“Corporate travel needs and demands, content, and the demographic make-up of travellers are all changing rapidly,” said Travelport’s president & CEO, Gordon Wilson. “Travelport intends to be at the forefront of these changes as we deploy our content and technology assets to address them.
“Locomote, which approached the market with a clean slate and a fresh approach, is a key part of how we envision the future. What has been done here is consistent with the vision that Philip Weinman and I mapped out together when we first began our association in 2013.”
Wilson added that Travelport plans to create greater synergies between Locomote and the other areas of its business, including its mobile travel commerce provider MTT and B2B payments company, eNett.
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