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Technology firm Amadeus has purchased hotel IT firm Newmarket International for $500 million.
US-based Newmarket offers cloud-based and event IT services to the hotel industry, and has been bought by Amadeus to strengthen its presence in the hotel technology sector.
Amadeus CEO Luis Maroto (pictured) said: “This important and strategic acquisition will strengthen Amadeus’ position in the hotel IT sector, bringing important expertise and key customer relationships to the company that will accelerate our move into this key market.
“With many hotel chains at a crossroads in their IT strategy, and the provider landscape fragmented, Amadeus is committed to playing a key role in partnering with the hotel industry to address its challenges and this transaction will greatly accelerate that objective.”
Newmarket works with around 22,000 hotels across 154 countries and specialises in group and event management IT for these properties.
Following the purchase, the New Hampshire-based company will operate as a standalone unit within Amadeus’ Global Hotel Group, which already has cloud-based products for hotels such as reservation, revenue and property management platforms.
Jeff Hiscox, Newmarket’s CEO, said: “We have built a profitable and successful business that is the undisputed leader in our market segment and by joining Amadeus we have the ideal platform to take that success to the next level and extend our leadership in hotel IT solutions”.