In a move to respond to growing demand in the corporate travel marketplace for a managed travel solution, Datalex and Yatra Corporation today announced a partnership to further develop information technology solutions for the global corporate travel industry.
Under the terms of the agreement, Datalex has acquired a 50 percent ownership stake in Yatra, and will team with the company to provide the Yatra platform to corporations, travel suppliers and other customers. As part of the transaction, Datalex will provide Yatra with working capital, and Yatra will gain access to Datalex`s sales and marketing resources. The partners will continue to focus on their core businesses. Yatra will focus on offering their solution to travel agents and corporations, while Datalex will focus on offering the corporate booking tools to third parties, such as airlines.
“This has been a very successful quarter for Datalex. Strong revenue growth across all areas of our business has exceeded expectations and, in line with our business model, 68% of this quarter`s revenues are from our e-business applications. We have successfully completed an IPO in a challenging climate, raising a net $66m that will enable us to expand both organically and through acquisition. Furthermore, we have secured agreements with a number of key players in the travel industry, consolidating our position as a leading provider of technology solutions to the global travel industry.”
The Yatra solution, which is built on Datalex`s BookSmart® Framework, is a fully-outsourced, intelligent B2B travel management environment that reduces corporate sourcing costs, delivers real-time business information, enables supplier-direct merchandising, and boosts traveler convenience. The BookSmart architecture is unique in the travel e-commerce industry, because it uses a CORBA-based component-container architecture that enables highly scalable, efficient, and extensible distributed applications.
“The Yatra technology platform gives Datalex a relationship and product that further broadens the one-stop nature of our product portfolios,” said Richard Kunz, Datalex Senior Vice President Global Marketing. “In addition to our BookIt! Consumer, BookIt! Fares and many other products, we`re extremely excited to add a corporate management solution. Yatra is a common-sense solution that reduces corporate travel costs, while enabling our supplier customers to establish real-time merchandising relationships with their corporate travelers.”
“Datalex is one of the few true innovators in travel technology,” added Praful Saklani, Yatra Vice President for Managing Product Strategy. “Our company shares its belief in the power of an intelligent, end-to-end travel purchasing system. Partnering with Datalex will help us bring new functionality to the global market even more quickly, also giving us access to the kind of sophisticated customer who can really benefit from the Yatra solution.”