Thayer Capital Partners Sells Vacation.com to Amadeus Global Travel Distribution; Strategic Sale Valued At $90 Million.Business Editors
WASHINGTON--(BUSINESS WIRE)--Oct. 30, 2000
Thayer Capital Partners, a leading Washington Washington, town, England
Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. , D.C-based private equity firm and controlling shareholder of Vacation.com, announced today the sale of Vacation.com for total consideration of approximately $90 million to Madrid-based Amadeus Amadeus, 1845–90, king of Spain (1870–73), duke of Aosta, son of Victor Emmanuel II of Italy. After the expulsion (1868) of Queen Isabella II, Juan Prim urged the Cortes to elect Amadeus as king. He accepted the crown reluctantly. .
Vacation.com is the world's largest Internet-enabled network of independent leisure travel agencies with over 8,400 members, responsible for travel sales over $20 billion annually.
Chris CHRIS Chemical Hazards Response Information System (US DoD)
CHRIS California Historical Resources Information System
CHRIS Computerized Human Resources Information System
CHRIS Command Human Resources Intelligence System Temple, a managing director at Thayer Capital hailed the sale as a win for both the buyer and seller. "We are extremely pleased with the sale of Vacation.com at an attractive valuation for Thayer Capital and its management shareholders. We believe our capital and strategic guidance to Vacation.com have helped generate an outstanding return on investment for our management and minority shareholders," said Mr. Temple.
Backed by an experienced management team, Vacation.com agencies account for nearly one-third of US travel agencies and will play a key role in Amadeus' growth strategy in the travel industry. "We are delighted to announce that Amadeus will be our new partner. Amadeus' commitment to technology, international travel distribution and additional capital will further our growth and technology development while ensuring that Vacation.com maintains a leadership position in the marketplace," said Larry Lar´ry
n. 1. Same as Lorry, or Lorrie. Kahn Kahn , Louis Isadore 1901-1974.
Estonian-born American architect whose bold monumental designs include the Yale University Art Gallery (1954) and the Kimbell Art Museum in Fort Worth, Texas (1972).
Noun 1. , Vacation.com's chief financial officer.
Led by former President of Marriott Marriott has several meanings:
1. FRED - Robert Carr. Language used by Framework, Ashton-Tate.
2. Malek, Thayer Capital provided the initial capital to create the Washington, D.C.-based Vacation.com in 1998. "Vacation.com has a unique business model of combining the fun and convenience of researching vacations using the vast resources available on the Internet Internet
Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the while harnessing the convenience, expertise and personal attention of a live expert travel agent," said Mr. Malek.
As a result of the sale, Thayer Capital Partners will obtain a warrant position in Amadeus but will otherwise end its two-year-old two-year-old
a horse aged between 2 and 3 years, the age dating from the horse's date of birth. In racehorses the birth date of the horse is as determined by the local racing authority as the birthday of all horses. investment in the "click and mortar" travel agency.
Amadeus, which is acquiring the Company for cash, warrants and the assumption of nearly $30 million in debt, is the leading global distribution system and technology provider, serving the marketing, sales and distribution needs of the world's travel and tourism industries. Amadeus delivers the booking engine behind more than 3,800 web sites and its data network and database are amongst the largest of their kind in Europe. Competitors include U.S. firms like Sabre, Galileo, and Worldspan that have seen the Internet and on-line travel agencies like Expedia and Travelocity dramatically change travel distribution.
About Thayer Capital Partners
Thayer Capital Partners is a rapidly growing private equity investment firm based in Washington, D.C. With two private equity funds totaling more than $1.1 billion, the firm manages buyouts and growth equity investments in four primary industries: information technology and services, electronics and outsourced manufacturing, education and training and outsourced business services.