Amadeus acquires the Catalan technology company Voxel for 113 million

Voxel has announced its sale to the Amadeus group for 113 million euros.

Oliver Thansan
Oliver Thansan
10 March 2024 Sunday 22:22
19 Reads
Amadeus acquires the Catalan technology company Voxel for 113 million

Voxel has announced its sale to the Amadeus group for 113 million euros. It is a notable operation in the digital sector of Catalonia, since Voxel was one of the pioneer companies in offering technological services to companies in the tourism sector.

Born in 1998 in Barcelona, ​​the company was controlled by its president, Xavier Ginesta, who has now sold ownership of the business to the Amadeus group, a giant in this sector that has its headquarters in Madrid and is listed on the Ibex35.

Sources close to the Catalan company assure that the 200 Voxel employees – spread across the offices in Barcelona, ​​Santo Domingo and Sydney – will become part of the Amadeus team, made up of more than 16,000 people around the world. The CEO, Àngel Garrido, as well as the president, Xavier Ginesta, will retain their positions in the same way that the Voxel brand and its Bavel platform will maintain their name and operation.

“Amadeus is at the center of the travel industry, and we couldn't be more excited to be part of this team. The group has a global reach, with experts in travel and technology,” says Garrido.

The Madrid group also welcomed this operation with open arms. In a statement, he explains that Voxel's technology allows it to grow in electronic billing services and further automate the business travel experience, from reservations and payments to expense management. Investors have not received this operation so well, since the Amadeus share has closed the trading session with a slight drop of -0.3%.

Voxel is a small company compared to Amadeus, which in 2023 had a turnover of 5,441 million euros and obtained a net profit of 1,052 million under the leadership of Luis Maroto, its CEO. Last year, the Barcelona company obtained revenues of 18 million euros, registering a growth of 22% compared to the previous year and setting the goal of reaching 23 million in 2024.

Under the umbrella of Amadeus, the Barcelona company now hopes to increase its presence in a market where it currently operates both locally and internationally. Altogether, it is present in a hundred countries, where its clients are a total of 50,000 hotels, 1,000 tour operators, 3,000 restaurants and 1,200 food and beverage suppliers.