For an undisclosed fee, the Madrid-based Amadeus IT Group has purchased Spanish paytech company Voxel.
For an undisclosed fee, the Madrid-based Amadeus IT Group has purchased Spanish paytech company Voxel.
Voxel, a Barcelona-based company founded in 1998, offers B2B payment solutions and electronic invoices to the travel industry via its Bavel platform, which facilitates billing, payment, and procurement procedures.
In an effort to "deliver a smooth travel payment experience," Amadeus claims that this new acquisition would "complement" its current payments company Outpayce, which offers a comparable range of services to the same market. It will also increase the company's footprint in the hospitality sector.
With the integration, the company plans to offer travel vendors a greater range of payment options, highlighting Voxel's invoice automation features as a crucial complement to its offering.
Amadeus will also welcome 200 employees from Voxel as part of the transaction.
According to Decius Valmorbida, president of Amadeus' travel division, the acquisition has produced "a complementary portfolio of solutions" that use "smart technology" to the travel industry's advantage.
The CEO of Voxel, Àngel Garrido, continues, saying that the merger gives Voxel and Amadeus the chance to "grow faster" and enhance "not only the processes for travel sellers but also travel providers."
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