Irish travel software company Datalex has announced that it has acquired 100 per cent ownership of US-based Yatra Corporation, a developer of online corporate travel management solutions.
Datalex initially took a fifty per cent holding in Yatra in November 2000.
The company, which provides technology software for the global travel industry, said the agreement would become effective immediately.
Datalex said the merger would make the company more competitive in the self-booking and corporate travel management marketplace with its unique offering designed to optimize travel procurement.
Yatra's patented software technology, known as Cognizer can mesh more than 50 factors at the time of booking a flight, producing itineraries that vary depending on the type of traveller and the purpose of the trip.
Cognizer can also weigh itineraries based on a comparison of traveller profiles and corporate policies.
Last month, Datalex announced a drop in revenues for the fourth quarter of 49 per cent on the same period in 2000 and a decrease of 2 per cent on the third quarter.
Revenues for 2001 were $29.1 million, a decrease of 13 per cent from $33.3 million in 2000, and the gross margin for 2001 fell to 20 per cent from 25 per cent in 2000.
Overall, the net operating loss for the year was $28.5 million; in 2000, it was $15.5 million).