Joshua WanderFounder and Managing Partner of 777 Partners, said: “The changes within the travel industry have created an unprecedented opportunity for a new wave of highly disruptive companies focused on the latest retail technologies to partner with the wider travel community. We are delighted to welcome the talented teams from AeroCRS and WorldTicket to the 777 family as we execute on our exciting travel strategy through 2022 and beyond. »
777 Partners also leases aircraft and deploys technology solutions to its dynamic portfolio of airline investments, including Flair in Canada and the Australian start-up Bonza. With the 2019 acquisition of Air Black Box, an interlining technology company, the addition of AeroCRS and WorldTicket will form a new travel group offering a suite of disruptive technology products to airlines and travel agencies worldwide entire. The acquisitions are part of 777 Partners’ $100 million commitment to the travel vertical and supporting the post-pandemic travel rebound and industry restructuring through disruptive new technology opportunities.
Founded in 2006, IsraelAeroCRS, based at AeroCRS, offers several travel-related products, including inventory management, reservations, and flight/fare management technology. The proven technology and product line have seen significant adoption over the past two years as the aviation industry reviews its partnerships and distribution strategies. With cloud-based technology and NDC Level 4 technology at its core, AeroCRS already hosts 90 airlines worldwide, with eight more in advanced implementation stages.
Meir Hadassi Turner, CEO and Founder of AeroCRS, said, “We are excited to embark on our next stage of exciting growth with 777 Partners. Adjacent synergies across the investment portfolio are significant and combined with 777’s proprietary technology and talent, we will create a new travel group and suite of travel solutions to support start-up growth and transformation. global, low-cost, full-service carriers of all sizes.”
Acquisitions were conducted by Josh Wander and Steve Pascothe founders of 777 Partners, and Adam WeissCEO of the company’s travel group which oversees all aviation and travel investments.
“Over the past two years, we have focused on architecting and building a platform of interoperable, modular products that enable airlines, airports and other travel agencies to evolve their business models and regain control of passenger relationships by breaking free from legacy systems. These acquisitions significantly advance this effort.” mentioned Adam Weiss.
For more information about the 777 Partners travel group or to speak to an executive, please contact vanessa horwell to [email protected]
AeroCRS has provided technology services and distribution connectivity to more than 90 travel agencies worldwide since 2006. Its technology solutions include inventory management, yield and revenue management, fare and class management, Open API, B2C and B2B platform, tariff mark, FFP, BI platform, report center and many more technology services. In addition to basic software services, AeroCRS invented the AeroCRS network. The Network is an online distribution platform for airlines based on global API integrations to over 20 distribution channels. Any airline using the AeroCRS network can increase its sales and increase its distribution reach, regardless of the PSS (Passenger Service System) solution it uses.
WorldTicket is a leading provider of Passenger Service Solutions (PSS) for airlines of all business models. Since 2002, the company has developed innovative and flexible IT solutions for airlines and currently serves more than 75 airlines worldwide. WorldTicket is headquartered in Copenhagen and has offices in Miami, bangkok, Warsaw, Kyiv and beijing. The global organization setup enables 24/7 support for all airline customers across all time zones. WorldTicket is the only PSS provider to have acquired its AOC holding airline, FlexFlight, with IATA code W2. It allows the innovative company to sub-host any airline in the GDS without lengthy implementation times or upfront investments.
About 777 partners
777 Partners is a Miamiis a New York-based alternative investment firm that invests in several attractive, high-growth vertical markets. Founded in 2015, 777 Partners invests strategically in six major sectors: insurance; consumer and business finance; litigation funding; direct loan; sports, media and entertainment; and aeronautics. In sports, notable investments include Genoa FC, a major stake in Sevilla FC, one of spain most prestigious and successful football clubs, and the London Lions, London only team in the British Basketball League squad. In travel, investments include AeroCRS, WorldTicket, Air Black Box and ultra-low-cost carriers Flair and Bonza.
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SOURCE 777 Partners