MADRID: Spanish technology company Amadeus, the world's biggest processor of travel transactions, said Thursday it will buy airline technology firm Navitaire for $830 million (750 million euros) to boost its position in the low-cost segment.
Amadeus, which provides technology to travel companies, expects to complete its purchase of Navitaire, a subsidiary of US management consulting firm Accenture, in the fourth quarter of 2015, the company said in a statement.
Navitaire, which offers technology services to airlines in the areas of reservations, loyalty programmes and revenue accounting, focuses on the low-cost segment of the airline industry.
It provides technology services to over 50 global airlines.
"Bringing Navitaire's experience, industry know-how, client base and strong product portfolio is a significant step for Amadeus in the low-cost and hybrid-carrier segments," Amadeus president Luis Maroto said in a statement.
About 550 Navitaire employees, including the company's senior management team, are expected to transfer to Amadeus.
Amadeus reported revenues of 3.4 billion euros ($3.8 billion) for the year ended December 31. It employs around 12,000 people worldwide.
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