LONDON (ShareCast) - Spain-listed Amadeus is to acquire Accenture subsidiary Navitaire for $830m, the company said in an announcement.
The deal was expected to close in the fourth quarter of this year, subject to regulatory approval.

Travel tech firm Amadeus said Navitaire's portfolio of technology solutions for the low cost segment would complement Amadeus' offering, and allow it to serve more airlines.

"Amadeus believes that the acquisition will enable it to improve the connectivity between different carriers in the same airline groups or alliances and that the functionality from each platform will enhance the other."

As part of the acquisition, approximately 550 Navitaire employees, including the company's senior management team, were expected to transfer to Amadeus.

In a separate agreement, Accenture and Amadeus agreed to form an alliance to jointly focus on digital travel services.

Amadeus shares lowered 0.18% to EUR36.18 at 16:47 on Wednesday.

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