A group of Travelport's existing equity holders and lenders, and some new ones, have agreed to invest $570 million in new equity financing into the travel technology company.
Following completion of the transaction, Travelport will have a new ownership structure composed of Elliott Investment Management, Davidson Kempner Capital Management, Canyon Partners, Siris Capital and other institutional investors.
Back in March, Travelport announced that company owners Elliott Investment Management and Siris Capital were investing $200 million in the company to fuel growth.
Travelport said the new financing will give Travelport "a robust capital structure, enable further investment into Travelport's technology platforms and pave the way for other innovations to deliver new and exceptional ways for the travel industry to serve customers."
The company specifically mentioned the acceleration of new developments for the Travelport+ agency platform, such as further support for airlines' New Distribution Capability (NDC) content.