T2RL: PROS acquires Vayant
August 3, 2017
PROS have made the step from revenue management and dynamic pricing to a full offer management solution set by acquiring Vayant. PROS are by far the market leader in the provision of revenue management technology to airlines as measured by total passengers boarded. The acquisition of Vayant creates significant new opportunities for PROS to expand their footprint in their customers and challenge the PSS providers for priced availability as a cloud based service. This offering is particularly relevant today as airlines look to new ways of doing business including IATA’s NDC and One Order.
HOUSTON and SOFIA, BULGARIA, August 3, 2017– PROS Holdings, Inc. (NYSE: PRO), a cloud software company powering the shift to modern commerce, today announced the acquisition of Vayant Travel Technologies, Inc., a privately held company based in Sofia, Bulgaria. Under the terms of the all-cash transaction, PROS will pay $35 million to acquire Vayant.
Vayant is a cloud software company that provides advanced shopping, merchandising and inspirational travel solutions.
The acquisition of Vayant accelerates PROS modern commerce innovation for the travel industry and positions PROS to deliver even greater value to its travel customers. The powerful combination creates an end-to-end offer optimization solution designed to help travel companies deliver personalized offers and expanded choices that drive loyalty and growth.
“Together with Vayant, PROS cloud solutions will enable airlines to maintain and leverage the integrity of their revenue management strategies and add powerful new modern commerce experiences for passengers,” said PROS Chief Technology Officer Rob Reiner. “With Vayant, we see an opportunity to deliver tremendous value to the travel industry with a robust and complete offer optimization solution. We are excited to welcome a team that shares our culture and our passion for innovation and customer success.”
“PROS shares our vision for the travel technology landscape,” said Vayant CEO Eric Dumas. “The combination of Vayant’s shopping, pricing and merchandising with PROS revenue management and real-time availability solutions provides extraordinary value to our customers and partners. Bringing together the complementary travel expertise of our two companies provides a further synergy to support the ongoing changes of the travel industry and opens positive opportunities to Vayant employees. We are honored to become part of the PROS family.”
Source: http://pros.com/about-pros/news/pros-acquires-vayant-travel-technologies-expands-modern-commerce-solutions-travel-industry/