TravelSky announced on May 5 that the company has completed the acquisition of OpenJaw for approximately USD 39.4 million. The deal makes OpenJaw a wholly-owned subsidiary of the company. This is Travelsky's first overseas acquisition since its inauguration.
OpenJaw is incorporated under the laws of Ireland, and mainly provides services related to travel technologies and products. OpenJaw has more than 30 corporate clients worldwide, including British Airways and Cathay Pacific. The Dublin-based company began its partnership with Travelsky in 2013 to bring OpenJaw’s t-Retail platform to Chinese carriers, Hainan Airlines being the most notable client at present.
TravelSky is the world’s third largest Global Distribution System and a leading provider of information technology solutions for China’s air travel and tourism industries with operating income of USD 842 million. The company owns the world’s largest IATA BSP (Billing and Settlement Plan) data processing center.
TravelSky views OpenJaw’s products, services and domain expertise in travel retailing and merchandising as key strategic assets for its domestic airline market and for expansion beyond the Chinese market. While TravelSky’s primary focus is the airline market, it also aspires to serve the loyalty, OTA and hotel sectors in the vertical chain, leveraging OpenJaw’s expertise and the industry-leading capabilities of their travel commerce technology, the t-Retail Platform.
Despite being a subsidiary fully-controlled by TravelSky, OpenJaw will remain an independent business unit and brand, while parent company Travelsky will steadily consolidate talents, technology, operations, culture and management to innovatively enhance its development strategy. (Translated by Jerry)
