Irish technology firm CarTrawler, which produces car-hire software for airlines and travel agencies , is set to acquire US rival AutoEurope, with a view to creating a transatlantic industry powerhouse.
Sky News reported on Monday that CarTrawler, which was founded by brothers Niall and Greg Turley brothers in 2004, is in advanced talks about a takeover of AutoEurope, which targets Americans planning holidays overseas.
The deal, which could be announced as soon as this week Sky said, will give CarTrawler a substantial presence in the vast US market.
The move is the latest expansion for CarTrawler, which has changed hands several times
European private equity firm BC Partners paid €450m for a majority stake in the Dublin-based business in March 2014, allowing UK private equity group ECI Partners, which paid about €50m for a 50 per cent stake back in 2011, to exit the business.
At the time of the deal, BC Partners set out a plan to grow the busienss through “enhancing CarTrawler’s already impressive track record in assisting its partners in the travel industry provide seamless car rental functionality, as well as through expanding CarTrawler’s presence across international markets”.
