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Toronto-based GuestLogix claims that the acquisition, which would close no later than January 22, 2015, creates “a comprehensive ancillary revenue and retailing platform supporting all travel verticals from the first point of interaction with the traveler throughout the entire customer travel life cycle.”
OpenJaw has contracts with at least a couple of dozen travel brands, including Four Seasons Hotels & Resorts, Aeroplan, Air Miles, British Airways, Avis Budget Group Europe, and voyages-SNCF.com. OpenJaw offers a retailing platform that providing online merchandising solutions to travel brands.
GuestLogix states that the $41.2 million acquisition price amounts to 1.8 times OpenJaw’s annualized revenue for the nine months ending September 30, 2014. GuestLogix’s trailing 12-month revenue through the end of the third quarter was $35.2 million.
GuestLogix entered into a financing deal with National Bank Financial, which advised GuestLogix on the acquisition, in order to partially foot the cash portion of the transaction.