Equant NV ("Equant"), a global integrated and customized communication infrastructure solutions company has sold its business unit, Equant Applications Services ("EAS"), a provider of web-based applications for the travel and transport industry, to SITA Information Networking Computing ("SITA") for an undisclosed sum.
Equant which merged with Global One last year is a recognised industry leader in global IP and data services for multinational businesses and is focusing its activities on network services, therefore EAS was no longer perceived as a core business within the Group.
EAS will now operate as SITA Advanced Travel Solutions. The acquisition will allow SITA, a leading global provider of integrated information and telecommunication solutions to the airport industry, to offer a fuller range of solutions based on internet technologies to their customers world wide. The Advanced Travel Solutions unit increases SITA's existing applications portfolio which supplies services to support a large number of airline, airport, travel, logistics and aerospace companies.
ARC Associates ("ARC"), a specialist investment banking and advisory firm to the TMT, financial services and property sectors, acted as a financial advisor to both Equant NV and SITA in this transaction. Commenting, John Allen, the Chairman of ARC said: "ARC is pleased to have been able to facilitate this transaction on behalf of Equant as it underscores our capacity to complete cross border divestiture assignments within large organisations. This transaction emerged from a recently acquired subsidiary of France Telecom based in Amsterdam which has been undergoing significant restructuring. The acquisition by SITA, a highly focused operator in the travel sector based in Switzerland was the logical solution for both parties."
ARC Associates is a specialist investment banking and advisory firm to the telecommunications, media, technology, financial services and property sectors.
Contact:
John Allen, Chairman
ARC Associates
+ 44 (0) 20 7614 4000