While Regent Equity Partners, with offices in Los Angeles, acquires the hotel-facing Pegasus Reservations Services, Pride Capital-owned Pegasus Solutions keeps the distribution side of the business, and presumably its debt, in the form of the Pegasus Solutions brand.
Skift learned of an imminent acquisition involving Dallas-based Pegasus in late September, and the company today provided Skift with a statement about the transaction, although some of the details are still sketchy. Pegasus’ employees and clients received messages about the deal over the last few hours or days.
In the transaction, Regent Equity Partners essentially gets Pegasus’ CRS business and related offerings, while the Pegasus Solutions brand will continue to provide distribution-related services connecting hotel CRSs to global distribution systems such as Sabre, Amadeus and Travelport, channel managers and other distribution companies.
While Pegasus Solutions’ CRS business has been in a state of decline in terms of market share, the distribution side of the business, which it retains, is said to be holding its own. The CRS business is said to have generated roughly $100 million in revenue in 2013.
Get the full story at Skift