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Travelport has sold corporate booking tech platform Locomote back to its founders.
Terms of the deal have not been disclosed.
The global distribution company originally announced the acquisition of a 49% stake in Australia-based Locomote in August 2014, ahead of its IPO in late-September of the same year.
Travelport went on to acquire a majority stake in the business in December 2015.
Locomote became part of Travelport Digital, the new business unit introduced in 2016 to house its various digital investments.
Ross Fastuca, says: “We’re excited to be back. There’s certainly a lot of businesses looking at evolving their current travel programs. Now more than ever, we see a need for travel programs to be underpinned by a technology platform that can adapt quickly, provide simple experiences in difficult scenarios and one that’s quickly and easily customizable.”
According to a statement, Travelport will continue to provide technology and helpdesk services to the business until the end of 2020.
It will also remain a reseller of Locomote and any customer agreements with Travelport or Locomote will not be affected by the sale.
Nick Dagg, chief commercial officer, agency, at Travelport, says: “We felt the solution would benefit from dedicated owners who will take the product forward and invest further in its development.”
