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Travelport Secures $200 Million Investment to Fuel Momentum and Further Propel Tech InnovationCompany Owners, Siris Capital Group and Elliott Management, Boost Investment Following Strong Q1 Results, Including a Restructuring of Debt, Further Strengthening the Company's Balance Sheet LANGLEY, United Kingdom, March 31, 2023 /CNW/ -- Travelport, a global technology company that powers travel bookings for hundreds of thousands of travel suppliers worldwide, today announced a $200 million investment from the company's owners, Siris Capital Group and Elliott Management. Following a strong first quarter performance, including best-in-class tech achievements and the acquisition of Deem, the new injection of capital will allow the company to continue executing against its aggressive growth strategy. Travelport Secures $200 Million Investment to Fuel Momentum and Further Propel Tech Innovation "The $200 million investment from our owners, Siris Capital Group and Elliott Management, reflect their confidence in Travelport and the continued reovery of the travel industry," said Greg Webb, CEO of Travelport. "The main advantage of private equity ownership is agility, which is crucial in a rapidly changing environment. This investment will allow Travelport to further advance its tech innovations, while fueling the company's momentum." This month alone, Travelport:
The $200 million investment, along with a recent refinancing that received the support of 100% of Travelport's First Lien Lenders and materially lowered the company's cash interest expense, provides Travelport with significant liquidity while demonstrating investors' strong belief in the company's bright future. About Travelport View original content:https://www.prnewswire.com/news-releases/travelport-secures-200-million-investment-to-fuel-momentum-and-further-propel-tech-innovation-301786763.html SOURCE Travelport |