Travel technology group Travelsoft has announced the acquisition of three companies—TravelgateX, ATCORE Technology, and Travel Connection Technology. These acquisitions elevate Travelsoft’s status as a global player in technology solutions for the leisure travel industry, with its technology now processing transactions worth €35 billion annually.
With the integration of these companies, Travelsoft now employs a global team of 600 professionals and has achieved recurring revenues of €100 million annually. The group, which has expanded its presence to over 80 countries, supports 400 major clients and 1,000 travel suppliers worldwide.
These acquisitions aim to address various challenges faced by tourism companies, destination management organizations (DMOs), and tourism boards. Each newly acquired company will retain its brand, leadership team, and technology platform, ensuring continuity and autonomy within the group. Key leaders such as Pedro Camara and Sandra Chinappen from TravelgateX, Dave Cruickshank, Andy Lennon, and Mike Wright from ATCORE Technology, and Alexandru Elisei from Travel Connection Technology will remain in their positions.
Founded in Paris in 2000, Travelsoft is a travel Software-as-a-Service (SaaS) company, focusing on simplifying the process of selling travel packages for tour operators and travel agencies by automating production and booking processes, and managing marketing data. The company operates in more than 80 countries under seven brand names: Orchestra (France), Traffics (Germany and Eastern Europe), Travel Compositor (Spain, Southern Europe, LATAM, and Asia), Eventiz Group (France), ATCORE Technology (UK), TravelgateX (Spain), and Travel Connection Technology (Romania).
TravelgateX specialises in the B2B lodging connectivity marketplace, linking buyers and sellers of hotel products via a single API. With over 1,000 partners and 50,000 daily bookings, TravelgateX facilitated transactions worth over €3.2 billion in 2023. The platform offers tools for data management and analysis to optimise the booking experience.
ATCORE Technology, with a 35-year history, provides reservation and omni-channel travel platforms such as ATCOM and Tigerbay. These platforms power over 23 million holidays and manage over £20 billion in bookings annually for partners like TUI and easyJet holidays. Based in Slough, UK, ATCORE employs around 200 people and is known for delivering scalable and effective solutions.
Travel Connection Technology offers software solutions for the travel industry, including analysis, strategic consulting, implementation, and customisation. Its flagship product, Traviola, integrates contracting, inventory management, sales channels, booking management, and financial accounts, streamlining how travel products are managed and sold.
Christian Sabbagh, Founder and CEO of Travelsoft, stated, “These three acquisitions represent a significant step forward in our mission to become the global leader in travel SaaS. We remain committed to further growth through innovation and additional acquisitions.”
Guillaume Basquin, Partner of CAPZA Flex Equity Mid-Market, commented, “This milestone enables Travelsoft to more than double its size within eight months of our initial investment. This achievement will strengthen the group’s leadership in Europe and accelerate our ESG roadmap to offer best-in-class green travel services.”
Pedro Camara, Founder and CEO of TravelgateX, expressed his enthusiasm: “Combining with Travelsoft’s other businesses creates a greater collective benefit, which is an unmissable opportunity for everyone involved.”
Dave Cruickshank, CEO of ATCORE Technology, added, “Joining Travelsoft is an exciting next step that will drive our growth and innovation further.”
Flor Kassai, Partner and Head of Inflexion’s Buyout Fund, expressed gratitude to the ATCORE team for their efforts during their partnership and confidence in the new ownership. Alexandru Elisei from Travel Connection Technology remarked, “We are excited to join the Travelsoft family and believe we have much to contribute to the group’s customer base.”
