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Farelogix Inc., a leading provider of independent faring and
multi-source distribution technology to the global travel
industry, today announced it has received US$6M from Sandler
Capital Management in a Series C funding round. The capital
will fund the company's steady growth through profitability
and will be deployed to support a number of strategic initiatives,
including expanding global sales and marketing efforts; building
a world-class management team; and relocating the corporate
headquarters to Miami. Farelogix will also use the funds for
continued enhancement to its highly successful FLX™
Platform and independent faring and pricing applications.
In conjunction with this round of financing, Farelogix has
also added Jim Davidson, company President and CEO and Michael
Marocco, Senior Managing Director and head of private equity
investing at Sandler Capital Management, to its Board of Directors.
Davidson, an industry veteran, brings many years of technology
experience in the global travel sector to the Farelogix board
of directors. Previously, he was President and CEO of Amadeus
Global Travel, North America (Amadeus GDS), an international
developer of reservations and technology solutions for the
travel industry. At Amadeus, Davidson led the introduction
of the Amadeus web-based reservation system into the North
American market.
"We are very excited about the value proposition that
Farelogix brings to the table," said Marocco. "It
is a company with a strong business model and leading technology
that has already gained widespread recognition for its innovation.
The Farelogix solution is well suited to meet the evolving
needs of the global travel industry of the future. Their timing
for continued growth and expansion could not be better."
"This recent investment will be instrumental in funding
our growth as we become a significant competitor in the travel
technology and distribution solutions industry," said
Davidson. "It provides us with the capital we need to
put together a high-powered, experienced and talented executive
team; engage in an aggressive sales and marketing push to
address the immediate needs of the marketplace; and enhance
our FLX™ multi-source and independent pricing platform
for global penetration. It also enables us to move our headquarters
to Miami to better align ourselves with the market opportunity."
Farelogix is a leading provider of multi-source distribution
and independent faring solutions to the global travel industry.
Founded in 1998, Farelogix has been providing sophisticated
faring solutions and multi-source content to some of the largest
travel companies in Canada and the United States including
Navigant International, American Express and Carlson Leisure
Group. Farelogix products are based on state-of-the-art, patent
pending technology that supports all major Global Distribution
Systems (GDS), direct airline reservation connectivity and
Internet fare sources. Farelogix has offices in Toronto, Ontario
and Miami, Florida.
Sandler Capital Management, a registered Investment Advisor,
has managed both hedge funds and private equity funds since
1980 and 1989, respectively. The firm has $1.5 billion in
combined assets under management and uninvested commitments
(including approximately $135 million of uninvested committed
capital for new private equity investments).
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