Airline, travel agency and hotel IT company Amadeus went shopping again, and this time it signed agreements to acquire a 68.5% stake in Frankfurt-headquartered i:FAO, an IT specialist in corporate travel.
The acquisition is subject to shareholder and regulatory approvals.
Amadeus says the acquisition would enable it to round out its corporate travel offerings, enabling it to provide corporations with an “end-to-end” solution.”
i:FAO’s strength is in Germany, but it also has a large presence in other German-speaking countries, including Austria and Switzerland. Its operations touch the UK, Scandinavia and Central Europe, as well, says Louis Arnitz, i:FAO’s founder and CEO.
If the acquisition goes through, Amadeus would inherit some 170 i:FAO workers, including 100 developers. i:FAO’s executive management is expected to stay on, the companies say.
Madrid-based Amadeus has been on an acquisition binge, having acquired Newmarket International a few months ago for $500 million and airport IT firm UFIS Airport Solutions in February.