Combines PROS revenue management, availability solutions with flight
shopping and merchandising to deliver personalized offers to passengers
HOUSTON & SOFIA, Bulgaria--(BUSINESS WIRE)--Aug. 3, 2017--
Holdings, Inc. (NYSE: PRO), a cloud software company powering the
shift to modern commerce, today announced the acquisition of Vayant
Travel Technologies, Inc., a privately held company based in Sofia,
Bulgaria. Under the terms of the all-cash transaction, PROS will pay $35
million to acquire Vayant.
Vayant is a cloud software company that provides advanced shopping,
merchandising and inspirational travel solutions.
The acquisition of Vayant accelerates PROS modern commerce innovation
for the travel industry and positions PROS to deliver even greater value
to its travel customers. The powerful combination creates an end-to-end
offer optimization solution designed to help travel companies deliver
personalized offers and expanded choices that drive loyalty and growth.
“Together with Vayant, PROS cloud solutions will enable airlines to
maintain and leverage the integrity of their revenue management
strategies and add powerful new modern commerce experiences for
passengers,” said PROS Chief Technology Officer Rob
Reiner. “With Vayant, we see an opportunity to deliver tremendous
value to the travel industry with a robust and complete offer
optimization solution. We are excited to welcome a team that shares our
culture and our passion for innovation and customer success.”
“PROS shares our vision for the travel technology landscape,” said
Vayant CEO Eric Dumas. “The combination of Vayant’s shopping, pricing
and merchandising with PROS revenue management and real-time
availability solutions provides extraordinary value to our customers and
partners. Bringing together the complementary travel expertise of our
two companies provides a further synergy to support the ongoing changes
of the travel industry and opens positive opportunities to Vayant
employees. We are honored to become part of the PROS family.”
Further details, including the financial impact of the acquisition, will
be provided when PROS reports its second quarter financial results today.
To learn more, visit www.pros.com
or follow PROS on Twitter at @PROS_Inc.
Vayant Travel Technologies, Inc. provides airlines with an
industry-leading sales offer creation platform independent from their
PSS for pricing, shopping, merchandising and NDC distribution. Vayant’s
advanced, cost-effective and easy-to-deploy solutions enable airlines to
take control of their distribution and optimize revenues across both
direct and NDC channels. More than 25 customers, including global,
regional and hybrid airlines, have chosen Vayant solutions to power
their digital commerce and their NDC distribution. The company’s largest
shareholder is venture capital firm NEVEQ. Visit www.vayant.com
to learn more.
Holdings, Inc. (NYSE: PRO) is a cloud software company powering the
shift to modern commerce by helping companies create personalized and
frictionless buying experiences for their customers. Fueled by dynamic
pricing science and machine learning, PROS solutions make it possible
for companies to price, configure and sell their products and services
in an omnichannel environment with speed, precision and consistency. Our
customers, who are leaders in their markets, benefit from decades of
data science expertise infused into our industry solutions. To learn
more, visit pros.com.
This press release contains forward-looking statements, including
statements about future benefits of the acquisition, and statements
about product capabilities following the acquisition. These
forward-looking statements may be identified by words such as
“anticipates,” “expects,” “projects,” “intends,” “should,” “will,” or
similar expressions. The forward-looking statements contained in this
press release are based upon current beliefs and expectations, and are
subject to significant risks and uncertainties. There are a number of
important factors that could cause actual results or events to differ
materially from those indicated by such forward-looking statements.
These forward-looking statements represent PROS expectations as of the
date of this press release. Subsequent events may cause these
expectations to change, and PROS disclaims any obligations to update or
alter these forward-looking statements in the future whether as a result
of new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170803006057/en/
Source: PROS Holdings, Inc.
PROS Holdings, Inc.
PROS Investor Relations
Tim Girgenti, 713-335-5879