Thoma Bravo, LLC, a leading private equity investment firm, announced that it has entered into an agreement to acquire TravelClick, a global provider of innovative revenue generating cloud-based solutions for the $500 billion global hospitality industry. Thoma Bravo has agreed to acquire TravelClick from Genstar Capital for $930 million.  The transaction is expected to close in the second quarter of 2014.

“The acquisition of TravelClick is consistent with Thoma Bravo’s strategy of investing in market leading companies with significant recurring revenue streams,” said Holden Spaht, managing partner at Thoma Bravo. “Larry Kutscher and his team have established an impressive track record of growing TravelClick rapidly and expanding the Company’s services to its customers.  We look forward to working with them to continue building on TravelClick’s position as the largest pure play provider of revenue enhancing technology to the hotel industry.” 

TravelClick provides innovative, cloud-based solutions for hotels around the globe that increase revenue, reduce cost, improve performance and create a strong brand. The Company’s suite of products and services include: Reservations Solutions, Business Intelligence Solutions, Media Solutions, Web Solutions, and Guest Management, and are designed to integrate seamlessly with one another to comprehensively address the needs of hoteliers. TravelClick’s network of local market hotel experts, based around the world, work directly with hoteliers to deliver the right technology platforms to optimize hotel performance.

“TravelClick has experienced phenomenal growth over the last several years, and we look forward to working closely with the Thoma Bravo team to help facilitate our continued trajectory,” said Larry Kutscher, CEO of TravelClick. “We have been focused on providing our customers with the best in technology services, data analytics and customer support, and are confident this partnership will only increase our ability to serve our 37,000 hotel clients around the world.  Empowering hotels from large brands and chains to individual properties to better manage their inventory and to drive bookings is at the core of our business.”

“The hospitality technology market is becoming increasingly dynamic and complex, with customers requiring better analytical and revenue-enhancing tools,” said A.J. Rohde, principal at Thoma Bravo.  “As global hotel providers look to maximise revenue per available room, TravelClick’s integrated suite of software, data, and marketing services is well poised to meet these needs, and we plan to support continued innovation to the highest degree.”

Kirkland & Ellis LLP served as legal advisor and Credit Suisse served as financial advisor to Thoma Bravo. Evercore acted as exclusive financial advisor to Genstar and TravelClick, and Ropes & Gray acted as legal advisor.