Press release:The fifth major realisation from the AXIO portfolio
AXIO Group today announced that it has completed the sale of AXIO Aviation Holdings Ltd (“OAG”) to funds managed by Vitruvian Partners for approximately $215m.
OAG is the world’s leading provider of flight information (schedules and status) and related analytical tools. It serves a wide range of customers across the travel sector including: airlines, airports and airport services providers, travel distribution players, government agencies, aircraft manufacturers, consultancies and corporate customers. Based in Luton in the UK, it has operations in Boston, Massachusetts and sales offices in North America and Asia.
Henry Elkington, CEO of AXIO commented, “This is the fifth major realisation from the AXIO portfolio. It demonstrates our strategy of building and then realising value in our individual businesses. Under AXIO’s ownership OAG has focussed its activities on subscription data services, disposing of non-core events and media products. OAG acquired FlightView in 2015 to expand its customer base, and strengthen its leadership in flight status data services. New product developments such as Dynamic Schedules and Traffic Analyser, and an investment in sales and marketing, have helped the business expand its global customer base. Significant customer wins in Asia, such as C-Trip and Alitrip, demonstrate OAG’s momentum and future potential.”
“We will continue to improve our remaining portfolio business by focussing on our leadership positions, driving efficiency, and investing for growth.”
Phil Callow, CEO of OAG said, “Over the last few years we have strengthened OAG by building the world’s most comprehensive flight status database, expanding our suite of analytical tools and launching a unique real-time flight schedule product. Vitruvian has a deep understanding of the travel market and a strong growth orientation. I am excited about the next stage of OAG’s growth and development. We thank AXIO for their support over the past 4 years, and look forward to working with the Vitruvian team to build on our momentum.”
Notes to editors:
About AXIO Group
AXIO Group manages a portfolio of market-leading information businesses providing critical, and often industry-standard, information and tools. The group’s other businesses are TechInsights, a leading intellectual property services and technical intelligence provider, and RISI, the world’s leading price reporting and analytics provider to the forest products sector.
For further information, please visit www.axiogroup.net.
About Epiris LLP