Travelport, an eCommerce company, announced last week that it had increased its ownership stake in eNett International, a payments business for the travel industry.
According to a company statement, 2009, Travelport has held a majority stake–57 percent–of eNett since 2009, while PSP International held the other 43 percent. However, with the increase, Travelport adds an extra 16 percent, raising its holding to 73 percent in a deal valuing eNett at $450 million.
“eNett is a significant element in realizing Travelport’s goal to redefine travel commerce, enabling a range of state-of-the-art and innovative alternative payment methods for B2B transactions which represent a considerable global market opportunity,” Travelport President and CEO Gordon Wilson said.
Wilson added that Travelport felt that the time was right to own more of the growing business. By investing further, the two eNett shareholders have the opportunity to play to their respective strengths, Wilson said.
New payment options are becoming more common in the travel industry. Last week, mobile commerce company Deem announced new features in its Deem@Work business. One of these updates included mobile travel booking options across smartphones and tablets, with integrated policy and fully-integrated pre-trip approval and notification.