Galileo to Acquire Its Italian Distribution Partner

Galileo International has executed a definitive agreement to acquire Sigma, its distribution partner In Italy, from Alitalia S.p.A. for approximately USD90 million.

Sigma is the exclusive distributor of Galileo services and products
throughout Italy and has developed a range of solutions for the travel
industry, including providing reservation services for Italian rail, ferry and
tour operator companies.  Sigma will become a wholly owned subsidiary of
Galileo International, which was acquired by Cendant in October, 2001.
 
Mark Miller
, President and CEO of Galileo International, said, “The
Italian travel industry is one of the largest in Europe and, through our long
association with Alitalia, has become one of Galileo`s most successful regions
with respect to travel distribution.  In acquiring Sigma we are reaffirming
our commitment to long term and sustainable growth for our operations within
the European continent.”
 
Gordon Wilson
, Executive Vice-President and Managing Director for
Galileo`s Europe, Middle East and Africa region, added, “Through this
acquisition, Italy will join a number of key regions in Europe where Galileo
has vertically integrated with its in-country distributor partner, such as the
United Kingdom, Switzerland, the Netherlands and Portugal.  Our strategic
intent is to enhance our speed to market, customer care and product innovation
by operating seamlessly across Galileo and Sigma for the benefit of our
customer base in Italy.
 
“The integration of the Sigma companies and the talented people within
these organisations will provide Galileo with a platform for further growth in
Italy, as well as neighboring areas.”


Related stories on ITN:

(19/06/2001) Cendant to acquire Galileo for approximately $2.9 billion in stock and cash

(30/10/2001) Galileo International Completes Purchase of Leading Travel Technology and Services Company

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