The acquisition of i:FAO is through a tender offer process, conditional upon acceptance by a minimum of 75% of shareholders and regulatory approvals in Germany. The tender offer price is €15.00 per share.

i:FAO Group is a leading provider of travel management technology solutions for corporations in Germany, and is traded on the Frankfurt Stock Exchange.

Headquartered in Frankfurt and with its main development sites in Sofia (Bulgaria), the group has a significant presence in the German corporate travel IT market through its flagship cytric solution, which has an open and flexible architecture that allows easy customization to specific clients requirements.

Since 1998, i:FAO has developed into a leading corporate travel agency in the German speaking countries of Germany, Austria, Switzerland. It also has a growing presence in the UK, Scandinavia and Central Europe,

The deal will see 170 i:FAO staff, including the management team, joining Amadeus.

Holger Taubmann, Amadeus senior vice president for distribution, said, “This deal extends our reach and further develops our offering in a key area, and will significantly increase our growth opportunities in the corporate travel IT business.

“Corporations are one of the biggest consumers of travel services, and they account for about 45% of all trips made worldwide.”

According to Taubmann, the corporate travel IT business is currently estimated at around €2 to €3 billion a year. It is expected to see strong growth over the next years”.

Louis Arnitz, founder and CEO of i:FAO Group, added, “Our experience, though, tells us that, more and more, global end-to-end travel IT solutions are critical for big multinational corporations’ requirements. Becoming part of a truly global leader in the travel industry with Amadeus, will allow us to develop the ability to meet our customers’ requirements worldwide.”

• Photo credit (coriporate traveller): Sergey Nivens/Shutterstock