LANGLEY, U.K., May 10, 2019 /PRNewswire/ -- Travelport Worldwide Limited (TVPT) ('the Company'), a leading travel technology company, has today filed a Quarterly Report on Form 10-Q in respect of its financial results for the quarter ended March 31, 2019. The Company will not hold an earnings conference call in respect of its financial results.
The completion of the merger as contemplated by the Merger Agreement dated December 9, 2018, and approved by the Company's shareholders at the Special General Meeting of Shareholders held on March 15, 2019, remains subject to the satisfaction or waiver of the remaining conditions set forth in the Merger Agreement, including the receipt of the remaining requisite consent under applicable laws in Russia. The Company continues to expect the merger to be consummated in the first half of 2019, as previously disclosed.
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About Travelport (www.travelport.com)
Travelport (TVPT) is the technology company that makes the experience of buying and managing travel continually better. It operates a travel commerce platform providing distribution, technology, payment and other solutions for the global travel and tourism industry. The Company facilitates travel commerce by connecting the world's leading travel providers with online and offline travel buyers in a proprietary business-to-business (B2B) travel platform.
Travelport has a leadership position in airline merchandising, hotel content and distribution, car rental, mobile commerce and B2B payment solutions. The Company also provides critical IT services to airlines, such as shopping, ticketing, departure control and other solutions. With net revenue of over $2.5 billion in 2018, Travelport is headquartered in Langley, U.K., has over 3,700 employees and is represented in approximately 180 countries and territories.
Acquisition of Travelport by Siris and Elliott
As announced in December 2018, Travelport has entered into a definitive agreement to be acquired by affiliates of Siris Capital Group, LLC ("Siris") and Evergreen Coast Capital Corp. ("Evergreen") in an all-cash transaction (the transaction hereafter referred to as "Merger"). Evergreen is the private equity affiliate of Elliott Management Corporation ("Elliott"). Under the terms of the agreement, Siris and Evergreen will acquire all the outstanding common shares of Travelport for $15.75 per common share in cash. The Merger has been approved by Travelport's Board of Directors and shareholders. Upon the completion of the Merger, which is subject to regulatory and closing conditions under the agreement, Travelport will become a privately held company and Travelport common shares will no longer be listed on any public market.