11 Travel Tech Acquisitions in 3 Months — See the List

24.09.2024 - 19:57 / skift.com / prince Harry / Justin Dawes

There have been dozens of travel tech acquisitions so far this year: That includes at least 11 deals over the past three months, which followed at least 15 earlier this year.

It’s all part of what industry leaders said would be an active time for mergers and acquisitions. And there are more coming. 

Private equity companies have about $300 billion to burn, according to a report earlier this year by Investment bank AGC Partners. As many tech startups struggle in a tighter funding environment, that’s a good recipe for more M&A activity.

That means those firms, and companies backed by those firms, are looking to swoop in for good deals on tech or staff.

In the deals outlined below, nearly none of the sale prices were disclosed. That often — but not always — means it was a small deal, especially in the case of a startup buying another company.

Juniper Group, Blackstone Growth, and Duetto (backed by GrowthCurve Capital) — all involved in activity outlined below — are among companies that have said recently that they are eyeing the market for more deals. 

Duetto, the revenue management tech company for hotels, was acquired in late June by private equity firm GrowthCurve Capital. 

San Francisco-based Duetto provides hotel companies with a software platform meant to streamline revenue management, online marketing, merchandising, and data-based analysis. Hotels can use the products to set room rates that adjust automatically based on market changes. 

With resources from the new owners, Duetto plans to accelerate its AI strategy, launch new lines of business, and expand into new markets.

In an interview with Skift, Duetto CEO David Woolenberg said that the company may expand via acquisition if it makes sense. (See Skift’s story.)

Travalyst, the travel sustainability nonprofit founded by Prince Harry, said Tuesday that it has acquired the tech from the former company Weeva. 

Julie Cheetham, founder and former CEO of Weeva, is joining Travalyst as the COO. 

The company has acquired the tech only; Weeva’s former employees are not joining Travalyst, according to a spokesperson.

London-based Travalyst is a coalition of travel companies including Google, Booking.com, Expedia, Skyscanner, and others. The organization’s model for calculating flight emissions powers the estimates that its members publish online for consumers. 

Weeva offered a similar service to tourism companies before it closed in July. The organization had been funded by Oppenheimer Generations, an investment fund led by the Oppenheimer family.

Travalyst is now working to strengthen its model for estimating flight emissions and plans to roll out a similar model for hotels, all meant to inform travelers about the environmental impact of their trips.

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