GuestLogix, a global provider of payment technology solutions for airlines and travel brands, is to acquire Dublin-based OpenJaw Technologies for $41.2 million (€33.4 million).
The transaction value represents approximately 1.8 times OpenJaw’s annualised revenue for the nine months ending September 30, 2014.
OpenJaw has long-term customer agreements in a wide variety of travel verticals including airlines, high-speed ferries, online travel agencies, loyalty programs, hotels and car rental companies. The technology firm will add more than 30 international travel brands to GuestLogix' customer base, including Four Seasons Hotels & Resorts, British Airways and Avis Budget Group Europe.
"With industry experts forecasting ancillary revenue in the airline industry alone to grow by an additional $130 billion by the year 2020, we recognize that there is an insatiable need for a technology platform designed to unilaterally support ancillary revenue initiatives across a travel company's entire operation," GuestLogix chief executive Brett Proud said.
GuestLogix expanded its presence in Ireland earlier this year, with the opening of a global customer support centre in Dublin, as an extension of its product innovation hub in Canada.