today announced that it has increased its shareholding in International Computer Services & Advice for Travel (ICSA T) NV from 54 to 100 per cent.
ICSA T, founded in Antwerp (Belgium) in 1990, is the market leader in Western Europe and the US for back-office and mid-office solutions provided to multi-national travel agencies.
In 1998, Amadeus had acquired an initial 49 per cent stake (increased in following years to 54 per cent) in this Belgium-based company specialising in front-, mid- and back office fully integrated applications for medium to large travel agencies and tour operators. With its ACE range of products, ICSA T has grown steadily from being a small European company to achieving a solid operational presence in Europe, as well as in Australia and India, where it opened a new development centre. In the US, ICSA T`s GlobalMax back-office software is used by 60 per cent of the top 50 travel agencies and cruise lines.
Accompanying its strong geographic growth, the company has more than doubled its revenues since 1998. ICSA T`s customers include some of the most significant players in the travel industry such as American Express, TQ3 and the majority of the world`s major cruise lines. ICSA T solutions are currently in use with more than 130 travel agencies and tour operators, amounting to more than 30,000 users globally.
ICSA T will continue to operate as an independent company within the Amadeus group.
Shahab Shadman has been appointed Chief Executive Officer of ICSA T. He was formerly Senior Manager, Business Development at Amadeus and has extensive experience in the management of technology-related businesses. “Full ownership of ICSA T provides Amadeus with a broad range of synergy benefits to give the company`s customers access to IT and software packages which represent complete, competitive and cost-effective solutions to run their business processes”, said Shadman.
Philippe Chereque, Senior Vice President, Corporate Strategy for Amadeus, added, “By taking full ownership of this business, Amadeus strengthens its commitment to serving the evolving technology needs of travel agents. This investment will accelerate the international development and expansion of ICSA T, enabling Amadeus to provide travel agents with the latest generation of management tools”.
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