Cendant Sells Travelport for $4.3 bil
JULY 3, 2006. Cendant Corporation is selling Travelport to an affiliate of The Blackstone Group for approximately $4.3 billion.
"As a private company, Travelport will now have considerably greater financial latitude and firepower to take advantage of burgeoning opportunities in the travel market," said Jeff Clarke, Travelport's president and CEO. "Our unmatched global reach and local expertise, together with our strong management team and unique portfolio of assets, is a great combination for future success in the flourishing travel space."
"I believe Travelport is poised to become the most relevant global brand in the travel industry," said Gordon Bethune, Travelport's Chairman. "Whether you're a traveler, travel professional or travel supplier, Travelport will offer more ways for its customers to create and enjoy exceptional travel experiences."
Travelport has also unveiled its dynamic new logo/brand identity, which not only symbolizes the three key elements of travel-earth, sea and sky, but also embodies the continuous integration of the Company's core businesses- Orbitz, Galileo and GTA; moving together in a forward motion.
"There has been a lot of excitement and anticipation around the development of our new logo," Clarke said. "But we're also cognizant that a brand isn't just about a logo or a visual identity - its about defining who we are, what we stand for, our values and culture, and the value we deliver to our customers. I believe that in time, what will differentiate Travelport from its competitors will be a refreshing, unmatched brand proposition based on global expertise, extraordinary value and innovative customer service."
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