ETW Staff– Mumbai
Travelport has increased its ownership stake in eNett International, its joint venture with PSP International established in 2009 to provide state-of-the-art innovative and integrated payment solutions tailored specifically for the travel industry. In the deal announced, Travelport has elected to acquire an additional 16 per cent from PSP International raising its holding to 73 per cent in a transaction which values the eNett business at US$450m.
Since the joint venture’s inception in June of 2009, Travelport has held a majority stake of 57 per cent whilst its partner, PSP International held the remainder.
The first five years of operation has seen the business develop from incubation, through launch and it has now become a growing part of Travelport’s Beyond Air portfolio and part of the Travelport strategy to redefine travel commerce.
