Specialty Travel Tech Investment Bank Represents Innovata LLC in Cross-Border Sale to Reed Business Information
NEW ORLEANS, March 26, 2014 /PRNewswire-USNewswire/ -- Ponterra Business Advisors of McLean, Va., facilitated the March 17, 2014, sale of its client, Innovata LLC of Atlanta, to Reed Business Information (RBI), a division of Reed Elsevier. Ponterra is a specialty global travel, hospitality, foodservice and retail technology investment bank. Ponterra announced its role in the transaction at the Hospitality Upgrade Executive Vendor Summit here, March 26.
The Vendor Summit is an annual gathering of about 60 chief executives and other high-level officers of technology vendors actively involved in the hospitality industry. Ponterra principals are regular presenters at the annual Summit.
Innovata is a leading provider of travel data, travel planning tools and airline schedules analysis tools for the air transport and travel markets. Innovata will integrate with RBI's aerospace information and data services business, Flightglobal. Reed Business Information, the business information division of Reed Elsevier, acquired all of Innovata's issued share capital for an undisclosed amount.
Innovata licenses its airline schedule and related data to more than 200 customers across a range of aviation market segments; and more than 100 airlines and airports worldwide use its timetable and route network mapping product portfolio.
Flightglobal is used by professionals across aerospace, aircraft finance and air transport to drive growth, identify new opportunities and make sound investment decisions through its unique combination of fleets, aircraft values, airline schedules and traffic data, together with news, analysis and insights.
Paul Chrestensen, Innovata Chief Executive Officer, said, "This is a win-win agreement for Flightglobal and Innovata, and both companies' respective customers. The successful conclusion to this transaction owes much to the skillful management, and the creative insights and suggestions stemming from a deep knowledge of the industry demonstrated by John Rovani and the investment banking team he leads at Ponterra Business Advisors."
"We were thrilled to have worked with the Innovata and RBI teams on this transaction," said John Rovani, managing partner and head of Ponterra Business Advisors. "Innovata is a well-managed firm with a unique and desirable set of data and services. RBI understands and appreciates the strategic value Innovata's products will bring to their portfolio." John Rovani was a 2012 Deal Maker of the Year finalist after leading transactions for EZYield, EasyRMS, MTech, Adaco and Clarity Commerce Solutions plc. in a 12- month period.
About Ponterra Business Advisors
Ponterra Business Advisors is a strategic specialty middle market Mergers & Acquisitions advisory firm with a unique focus on the global travel, hospitality, retail and foodservice technology and services sectors. Founded as JSR International, LLC in 1997, the company re-branded in December 2012 as Ponterra Business Advisors in McLean, Virginia, Ponterra is active globally, and in many cases works with complementary in-country investment banking affiliates. Ponterra Business Advisors offers proven success in closing deals around the globe. Ponterra accomplishes this through a diligent M&A process, with comprehensive business financial services including: mergers and acquisitions advisory; exit planning and business mentoring; capital formation; business valuation; and board advisory. For more information, please visit www.ponterra.com or call toll-free in North America, +1 855-205-2500. Internationally, please call +1 703-565-2177.
Members of Ponterra are registered representatives of and securities are offered though StillPoint Capital, LLC, member FINRA and SIPC.
SOURCE Ponterra Business Advisors