Scottish software company Traveltek, which has been providing tech solutions to the travel trade for the past 25 years, has been taken over by a Canadian company.
Juniper Group is part of Vela Software and Constellation Software which is traded on the Toronto Stock Exchange.
It said the acquisition will strengthen its market presence in the UK, North America, and Australia while Traveltek will leverage Juniper’s expansive global network and product portfolio.
Traveltek raised £1.3 million in 2021 to develop its packaging technology on top of £5.3 million in 2016, with the investment targeting the company’s international growth strategy.
The firm’s CEO Mal Barritt said: “Leading Traveltek into this new chapter is a proud milestone. This offers our customers unparalleled access to a broader array of resources and industry-leading products. Importantly, it also provides an exciting and sustainable home for Traveltek, where our team will have new growth and development opportunities.”
Jaime Sastre, CEO of Juniper Group and founder of Juniper Travel Technology, said Traveltek’s management team and high-performance technology stack are a “fantastic addition to our portfolio of travel software companies”.
There will be no changes to Traveltek’s management team, ensuring continuity for customers and partners.
Terms of the deal were not disclosed but it provides an exit for YFM Equity Partners.