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May 27, 2024
PI Global Investments

Berkshire’s Travelport secures £450m equity financing in ownership reshuffle

Tech firm Travelport has received a £450 million equity investment, granting the business a more robust long-term capital structure.

Headquarted in Langley, Travelport powers bookings for hundreds of thousands of travel retailers across the world.

This latest move puts the business under the ownership of Elliott Investment Management, Davidson Kempner Capital Management, Canyon Partners and Siris Capital, among other equity and credit investors.

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It follows a $4.4 billion private takeover in 2018 by Siris Capital and Evergreen Coast Capital.

CEO Greg Webb said: “The completion of Travelport’s financing transaction represents the strong belief our investors have in our competitive position and potential for long term growth.

“Our new financing allows us to continue to innovate, enhance and deliver the best-in-class technology our partners have come to expect from us.

“This investment will further fuel our momentum, setting up the company for increased speed, agility and innovation in 2024.”

Moving forward, the firm plans to roll out new developments on the Travelport+ retail platform, as well as build upon its Content Curation Layer, an AI-powered search engine to normalise and personalise sources of travel content.

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