Under the terms of the transaction, Amadeus will acquire a 30 per cent shareholding in Optims through a reserved share capital increase, for a maximum of EUR 6 million, represented in EUR 4.8 million in upfront cash and EUR 1.2 million in a convertible loan. Optims is listed in the Paris Stock Exchange's Nouveau Marché, with a 39 per cent float, while the rest is held by its founders, venture capitalists and financial institutions.
Completion of the transaction remains subject to the approval of the French market and German merger control authorities , as well as Optims' extraordinary shareholders' general meeting to be held on 31 October 2003 at the latest.
This investment comes with the signature of a development, technology and marketing agreement which sets up a co-operation framework for Amadeus and Optims to further develop and promote their respective products in the hospitality sector individually and, eventually, as integrated or bundled systems.
With an important presence in France, Germany, Spain and other European countries, Optims serves over 5,500 hotel customers, including Accor, Barceló Hotels & Resorts, Envergure, Four Seasons and the Savoy Group, in more than 70 countries around the world, offering a complementary range of products for the sector which include:
- Property Management Systems -PMS- (Front Office, Back Office, Point of Sales and Inventory Management Interfaces),
- Yield Management Solutions (known as Revenue Management Systems-RMS),
- Central Reservation Systems (CRS),
- Customer Relationship Management (CRM).
By working closely with Optims, Amadeus will further build upon its technological expertise and understanding of the hospitality market, meeting the requirements of the direct and online distribution channels in the hotel industry. Likewise, and given its ample expertise in the provision of services under the ASP mode, Amadeus will support Optims in the technical development of a new generation of products and services from its leading-edge data centre located in Erding, Germany.
As Amadeus has proven successful in providing airlines with reservations, inventory and departure control services, this deal also demonstrates Amadeus's commitment as one of the leading suppliers of IT services for travel suppliers and distributors.
This agreement will enable Amadeus-connected travel agencies and online travel providers access to offer and make reservations through the Optims Group CRS - Otedis - offering inventory of approximately 4,000 hotels.
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"Our knowledge of the tourism industry, built on permanent dialogue with our customers, mirrors the Amadeus business approach", said Antoine Medawar, CEO of Optims. "Amadeus is the perfect fit for Optims' value proposition. Together we'll be able to build a bundled new generation global offering for the hospitality and tourism sectors, which will include PMS, CRS, electronic distribution and Yield Management. In addition, Amadeus will provide us with an unbeatable distribution capability both for our products and services and for our clients' inventory."
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"Amadeus will take another step forward by bringing an extensive and customised offering to the hospitality sector", said Amadeus Senior Vice President, Corporate Strategy, Philippe Chérèque. "Through this investment in Optims, we are increasing our hotel-related technology expertise and strengthening Optims' ability to further enhance their IT services for customers. "
"The two companies will provide the leading-edge vertically integrated inventory and distribution solution that the hospitality industry has long been waiting for, seamlessly connecting all distribution channels to a centralised, single-image inventory of room availability and rates. Furthermore, with Optims, Amadeus customers will benefit from an additional range and depth in our hotel distribution solutions, also improving the bookable content offer to our travel distribution partners," Chérèque added.
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Optims develops and implements Information Technology solutions dedicated to optimising management methods and revenues. Optims has been serving the Hospitality, Tourism, Catering, Transport and Travel Industries through three complementary technologies. These include Property Management Systems (PMS), Yield Management Solutions known as Revenue Management Systems (RMS) and Central Reservation Systems (CRS). Among Optims' prestigious clients are Accor, Le Méridien, Envergure, Thistle, Boscolo, Nouvelles Frontières, Châteaux & Hotels de France, Radisson SAS, Barceló Hotels & Resorts, Savoy Group, Four Seasons, Arabelle Country Estate, Beachcomber, FRAM, Meritus Hotels & Resorts and Royal Parc Evian. Optims issued its Initial Public Offering (IPO) in the Paris Stock Exchange's Nouveau Marché in June 2000 (ISIN: FR0004165975; mnemo: OPT; SICOVAM code: 007652). Further information about Optims is available at www.optims.com.
For further information please contact:
Dominique Sacrez
Optims Communication Manager
5, rue de Ventoux - 91019 Evry, France
Tel: +33 (1) 69 47 62 22
Fax: +33 (1) 60 79 30 71
E-mail: [email protected]
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Amadeus Global Travel Distribution (MAD: AMS) - Amadeus is the leading global distribution system (GDS) and technology provider, serving the marketing, sales and distribution needs of the world's travel and tourism industries. Its comprehensive GDS data processing centre serves 63,940 travel agency locations and more than 9,900 airline sales offices, which together total more than 272,980 points of sale located in over 200 markets worldwide. Through the Amadeus GDS, travel agencies and airline offices are able to make bookings with 466 airlines, representing more than 95 per cent of the world's scheduled airline seats. The system also provides access to 62,520 hotels, 47 car rental companies serving some 24,760 locations, and other provider groups including: ferry; rail; cruise; insurance and tour operators. Amadeus is a leading application service provider (ASP) to the airline industry. 134 airlines use the Amadeus Sales System in their offices to provide passengers with superior and seamless service at optimal cost. Amadeus's new generation of Passenger Service Systems, which include all IT systems associated with inventory management and departure control, will be implemented by British Airways, Qantas and Finnair. e-Travel, Amadeus's e-commerce business unit, is global leader in online travel technology and corporate travel management solutions. It powers the Web pages of 887 travel agencies, 255 corporate sites, 18 hotel sites and 139 web sites serving 50 airlines. Amadeus is headquartered in Madrid, Spain and quoted on the Madrid, Paris and Frankfurt stock exchanges. For the year ended 31 December 2002, the company reported revenues of EUR 1856m and net income of EUR 148.6m. The Amadeus data centre is in Erding (near Munich), Germany and its principal development offices are located in Sophia Antipolis (near Nice), France. The company has some 5,200 employees worldwide.
For further information please contact:
Corporate and Marketing Communication
Amadeus Global Travel Distribution
Tel: +34 91 582 0160
Fax: +34 91 582 0188
E-mail: info@amadeus.
Or visit www.amadeus.com.