TWAI enters definitive agreement to acquire Airlines Technology
TWAI, a global leader in providing travel technology, has entered into a definitive agreement to acquire leading NDC Aggregator and solutions provider, Airlines Technology Pvt. Ltd.
Through its product AccessOne, TWAI provides a GDS-agnostic booking solution for leisure, agency and corporate customers. It further enhances its offering through their product TripMole to provide flight amenity data, rich content and branded fares via easy-to-use APIs. Travelers today are more informed and demand live content that is instantly accessible to make their purchase decisions.
Speaking on the occasion, Mr. Trideep Aggarwal, CEO of TWAI said "This investment expands our existing portfolio of great products and gives more choice to our customers by opening access to increasingly fragmented content. Airlines Technology fits our product roadmap and allows us to provide NDC content through our platform. This transaction will enable us to provide next generation services to our clients globally. NDC has an important role in the future and we will lead the global race of NDC solutions with this acquisition. There are multiple fragmented solutions for NDC but we would be the first in the world to be able to offer the complete solution including booking platform, rich content and NDC together. Through our great products and NDC, we would be able to bring the next generation shopping experience to our customer's desktops, mobiles and tablets."
According to Varun Bansal, Airlines Technology's founder and CEO, "Airlines Technology was founded to disrupt the monopoly and break the barriers created by the existing distributors. I am amazed how these distributors claim to be technology providers but do nothing for the benefit of end customers. TWAI is a perfect fit for our products and accelerates that mission. We have been in touch since May 2019 and discussing different ways we could combine our strengths. TWAI has an amazing team, great products and dedication for its customers. We will now aggressively work together to become leaders in the space for airlines, distributors and technology platforms worldwide. By combining our technology and TWAI's established relationships and scale, we now have a clear path to fulfilling our mission."
The acquisition is subject to customary closing conditions and approvals and is expected to close in first quarter of 2020. Airlines Technology will operate as a wholly owned subsidiary and strategic business unit of TWAI. The terms of the deal are private.