Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

TRAVELPORT WORLDWIDE LTD

(TVPT)
SummaryNewsCompany 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Travelport Worldwide Limited : announces completion of acquisition by affiliates of Siris Capital Group, LLC and Evergreen Coast Capital Corp.

05/30/2019 | 10:59am EDT

LANGLEY, U.K., May 30, 2019 /PRNewswire/ -- Travelport Worldwide Limited (NYSE: TVPT) ("Travelport" or the "Company"), a leading travel technology company, announced today the completion of its acquisition by affiliates of Siris Capital Group, LLC ("Siris") and Evergreen Coast Capital Corp. ("Evergreen") in an all-cash transaction valued at approximately $4.4 billion.

The transaction, which was originally announced on December 10, 2018, was approved by Travelport's shareholders on March 15, 2019.  In connection with the closing of the transaction, the Company, which will continue to operate as Travelport Worldwide Limited, will be wholly owned by affiliates of Siris and Evergreen, and Travelport's common shares will be delisted from the New York Stock Exchange.

The Board of Directors of the new Travelport operating company will be led by Executive Chairman John Swainson, a Siris executive partner and a former executive at IBM Corporation, CA, Inc. (formerly Computer Associates) and the Dell Software group.

Commenting on the transaction closing, John Swainson said: "Through its best-in-class distribution capabilities, technology services, innovative payment solutions, and other value-additive digital tools for the global travel industry, Travelport is well positioned to deploy its global scale and local expertise to deliver key solutions for travel suppliers and agencies. With the combined support of Siris and Evergreen, I look forward to partnering with management to drive new opportunities for innovation and growth."

Gordon Wilson, President and CEO of Travelport, commented: "We have commenced building a great relationship with the Siris and Evergreen teams.  We now look forward to working closely alongside them as we continue to develop and invest in our platform to serve the evolving needs of our customers.  We are confident that Siris' and Evergreen's support will enable Travelport to execute on its strategy in an exciting new phase of innovation and industry leadership."

About Travelport (www.travelport.com)

Travelport is the technology company which makes the experience of buying and managing travel continually better.  It operates a travel commerce platform providing distribution, technology, payment and other solutions for the global travel and tourism industry.  The company facilitates travel commerce by connecting the world's leading travel providers with online and offline travel buyers in a proprietary business-to-business (B2B) travel platform.  

Travelport has a leading position in airline merchandising, hotel content and distribution, car rental, mobile commerce and B2B payment solutions.  The company also provides IT services to airlines, such as shopping, ticketing, departure control and other solutions.  With net revenue of over $2.5 billion in 2018, Travelport is headquartered in Langley, U.K., has over 3,700 employees and is represented in approximately 180 countries and territories.

About Siris

Siris Capital is a leading private equity firm focused on making control investments in data, telecommunications, technology and technology-enabled business service companies in North America. Integral to Siris' investment approach is its partnership with exceptional senior operating executives, or executive partners, who work with Siris on a consulting basis to identify, validate and operate investment opportunities. Their significant involvement allows Siris to partner with management to add value both operationally and strategically. To learn more, visit us at www.siriscapital.com.  

About Elliott and Evergreen

Elliott Management Corporation manages two multi-strategy investment funds which combined have more than $34 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. This investment has been led by Evergreen Coast Capital, Elliott's Menlo Park affiliate, which focuses on technology investing.

Travelport Media Contact:
Julian Eccles
VP PR and Communications
Tel: +44 (0) 7720 409374
julian.eccles@travelport.com

Anna Davies
Head of Global Communications
Tel: +44 (0) 7787 501908
anna.davies@travelport.com

Travelport Investor Relations contact:
Peter Russell
Head of Treasury and Investor Relations 
Tel: +44 (0)1753 288 248
peter.russell@travelport.com

Siris:
Dana Gorman
Managing Director, Abernathy MacGregor
Tel: +1 212 371 5999
dtg@abmac.com

Blair Hennessy
Senior Vice President, Abernathy MacGregor
Tel: +1 212 371 5999
bth@abmac.com

Elliott/Evergreen:
Stephen Spruiell
Tel: +1 212 478 2017
sspruiell@elliottmgmt.com

Cision
View original content:http://www.prnewswire.com/news-releases/travelport-worldwide-limited-announces-completion-of-acquisition-by-affiliates-of-siris-capital-group-llc-and-evergreen-coast-capital-corp-300859229.html

SOURCE Travelport Worldwide Limited


ę PRNewswire 2019
All news about TRAVELPORT WORLDWIDE LTD
2019TRAVELPORT WORLDWIDE LIMITED : announces completion of acquisition by affiliates of Siris ..
PR
2019TRAVELPORT WORLDWIDE : Corteva Set to Join S&P 500; Fluor to Join S&P MidCap 400 and Realo..
PR
2019TRAVELPORT WORLDWIDE LIMITED : Reports First Quarter 2019 Results
PR
2019TRAVELPORT WORLDWIDE LIMITED : Reports Fourth Quarter and Full Year 2018 Results
PR
2019TRAVELPORT WORLDWIDE LIMITED : Announces Date for Fourth Quarter 2018 Earnings Results
PR
2019TRAVELPORT WORLDWIDE LIMITED : Announces Special General Meeting of Shareholders to be Hel..
PR
2018Travel agents seek EU antitrust probe into Lufthansa pricing
RE
2018EXCLUSIVE : Travel agents seek EU antitrust probe into Lufthansa surcharges
RE
2018Elliott, Siris book Travelport on trip back to private markets for $4.4 billion
RE
2018TRAVELPORT WORLDWIDE LIMITED : announces agreement to be acquired by affiliates of Siris C..
PR
More news
Analyst Recommendations on TRAVELPORT WORLDWIDE LTD
More recommendations