Data management specialist Travelogix has completed a management buyout.
A team led by Chris Lewis, the founder and chief executive, bought back the controlling share in the company from Sweden based Safeture AB, previously known as Global Warning Systems AB (GWS). 51% of Travelogix was previously acquired by GWS in January 2016.
Alongside Lewis, the MBO team consists of original co-founder and chief technology officer Gary Jones with sales and marketing Manager Tahir Zia and operations manager Sally-Anne Houlker both investing in the company.
The company said independence would allow the business to be more entrepreneurial in its approach to product development and more responsive to client demand. It will now focus on further increasing international market share of its data management suite, Analytix, and the launch of Farecast; a new airline incentive management platform focused exclusively at Travel Management Company: An agency which manages business travel for a company. groups and consortia, which will be commercially available from April 2020.
Lewis said: “The travel industry is changing rapidly and remains intensely competitive. In order for Travelogix to remain relevant to the market and grow we need to be able to make quick decisions and be wholly focussed on our key demographic while being entrepreneurial in our approach to commercials and developing new products and solutions, something we feel hasn’t always been entirely possible in recent years.
“We believe being independent again will offer us greater agility and enable us to focus 100% of our efforts on faster delivery of our products, growth and improving profitability.”
There is not expected to be any immediate change to the structure or roles of the management team, and Travelogix will continue to represent the Safeture duty of care platform in the UK and will focus exclusively on the provision of the platform to TMCs.
Travelogix was established in 2011 and offers delivery and data management software, reporting tools and other solutions for TMCs and their clients, via a suite of products including Analytix, DataValet, DataShare, DataPublisher, ConsoliData, Farecast and SafeGuard.