Sonata acquires majority stakes in TUI infotec

Bangalore, Sep 27 (UNI) Sonata Software Limited today announced acquisition of majority stake of 50.1 per cent in the Germany based TUI Info Tech in an all cash deal of 18 million euros.

The acquisition would help Sonata spread its wing in Germany besides increasing its presence in Europe, Sonata President and Managing Director B Ramaswamy told newsmen here.

Mr Ramaswamy said TUI infotec was part of the 20 billion euro Tourism and travel major TUI.

TUI infotec had posted revenues of 130 million Euro last year with profits of 11 million euro.

Leveraging on Sonata's offshore capabilities TUI Infotecx would offer IT infrastructure management services and IT software services to the European market and would premain a preferred supplier to the Group, providing 30 per cent of the total business.

TUI also has two subsidiares in Travel BA.Sys and Accon RVS which provide a technology platform and back office services for travel agencies.

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