Irish app developer MTT docks with Travelport in €14.4m deal
US global travel services giant Travelport has bought Dublin-based mobile travel app developer Mobile Travel Technologies (MTT) for at least €14.4m.
The Irish firm was controlled by Gerard and Caroline Samuels, with other shareholders including venture capital firm Draper Esprit.
In 2013, MTT made a €1.8m profit. It provides a mobile travel platform that allows airlines, hotels and travel agencies to engage with customers.
MTT's mobile apps and services are used, under operator's own brands, on smartphones, tablets and wearable devices, including the Apple Watch.
Industry giant Travelport provides distribution, technology, payment and other technology services to the travel and tourism sector.
Its clients include companies such as easyJet, Singapore Airlines, Saudia, BCD Travel, Capita Travel and Events and the LATAM Airlines Group.
MTT operates in a fast-developing sector - in the US alone, the transaction value of hotel bookings made using mobile devices is expected to grow from $2.7bn in 2014 to $5.4bn (€4.92bn)in 2016, reflecting a growth rate of more than 100pc in just two years, according to Travelport
"Adding MTT as an expanded capability to our existing travel-commerce platform extends our reach further, and at the higher value add end of the service spectrum for our airline, hotel, travel management company and travel agency clients," said Gordon Wilson, Travelport's president and chief executive.
MTT will operate as a wholly owned subsidiary of Travelport, retaining existing chief executive Gerry Samuels and his senior team.
"Becoming part of the Travelport family will enable MTT to accelerate what we are already doing in the travel industry - bringing cutting-edge mobile innovations to airlines and travel intermediaries so that they can better serve the end traveller with innovative and personalised mobile services that transform the travel experience," Mr Samuels said.