Investor Vitruvian Partners is backing a management buy-out of flight information provider OAG.
The acquisition from Axio involves an ambitious investment strategy for Luton-based OAG.
Private equity firm Vitruvian has previously been involved with investments in Skyscanner and JacTravel as well as Just Eat and Callcredit Information
OAG chief executive, Phil Callow, 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 phase of OAG’s growth and look forward to working with the Vitruvian team to build on our momentum.”
Vitruvian partner Ben Johnson added: “OAG is an exceptional travel technology business demonstrating good growth in a fast-changing global travel market.
“Phil and his team have overseen the transformation of OAG from its position as a trusted source of flight schedule information into a forward thinking global data and analytics company, which has resulted in unprecedented growth in recent years.
“We are hugely excited about supporting the team’s ambitions for the next stage of growth and investing in new products and services to support its clients further.
“We hope our experience with other companies such as Skyscanner, JacTravel and Callcredit will be valuable to the team.”
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