Global Warning System (GWS) today announced its plan to acquire UK Based Travelogix Ltd, an emerging technology leader providing software for travel optimization for the travel management industry. The purpose of the acquisition is twofold: it will strengthen GWS’ offer as a one-stop shop to meet the growing needs in the personal security and travel industry, and it will reinforce the GWS in-house knowledge of processing travel data.
The acquisition is planned in two steps. Initially GWS will acquire 51% of the shares that will be paid in a combination of 30 000 GBP in cash and 117 374 GWS shares (representing a stock dilution of less than 1%) at the share price of 18,43* SEK per share. The remaining 49% can be acquired by GWS after 4 years with a purchase option, priced as an earn-out model based on the revenue and profit performance of Travelogix. Completion of the transaction is conditional upon a resolution by the shareholders’ meeting in GWS to issue the consideration shares. Such shareholders’ meeting is planned to be held around 25 January 2016 and notice to the shareholders’ meeting will be press released separately.
GWS Safeture service concept is a personal security service, which provides critical information directly in the traveler’s smartphone. It delivers important information and alerts in real time about the actual location, giving service and safety while traveling. Travelogix is a UK based company, specialized in developing and selling SaaS (Software as a Service) solutions for processing travel data in order to reduce costs for corporate travel managers. GWS will by the acquisition add to their technology knowledge by integrating the Travelogix expertise in processing travel data. By this, the GWS technology platform will be answering to the future customer needs of both the personal security and travel segments, since the travel industry is moving towards adding security and safety information, while at the same time the security industry is moving towards managing travel security. Moreover, the merging of GWS Safeture service concept with Travelogix’ travel optimization software, will create a new generation of business travel tools, improving the security aspects of traveling while at the same time making travel management more efficient and cost effective.
Andreas Rodman, CEO of GWS, comments on the acquisition:
“With this acquisition, we will be equipped with an even stronger platform and sales proposition, adding competitive advantage to our core business by integrating the knowhow of processing travel data. Travelogix product will also enable us to create more powerful and comprehensive products for the benefit of our clients and partners. With their talented team on board, and growing success within the travel industry, I am feeling very confident of success ahead.”
Travelogix’ CEO Chris Lewis emphasizes that the acquisition creates an industry first product:
“We are extremely excited to join the fast-growing GWS team, contributing with our products and in-depth experience of the travel industry. By combining our strengths we create the knowledge and critical mass that will change the standards in the industry and bring new services with mobile solutions for travel and personal safety.”
About GWS Production AB and Safeture
GWS, Global Warning System, was founded in 2009, triggered by the experience with a global SARS epidemic, the 2004 Indian Ocean tsunami and the Mumbai terror attacks. The company offers a mobile device based, personal security service Safeture, in order to protect the traveler by real-time tracking and providing valuable real-time information about disasters and other threats that could impact on the traveler. The system consists of a range of services that are delivered via the traveler’s mobile phone and is provided to both businesses – Safeture Pro, and to private individuals – Safeture.
The GWS share is listed on NASDAQ First North Stockholm. Sedermera Fondkommission is the Certified Adviser.
Travelogix was established in 2011 and is fast becoming the trusted name when it comes to high-end data delivery and data management software, reporting tools and other innovative and smart solutions for travel management companies and their clients.
Travelogix’ mission is to provide travel management companies with software that improves their business efficiency and performance and their ability to produce vital reporting which helps them maintain the finest standards of services for their clients.
Travelogix suite of products includes Analytix, DataValet, DataShare & DataPublisher.
*The share price is calculated as the rolling weighted average over ten trading days from 7 December to 18 December.
This is an English version of a press release communicated by GWS Production AB. In any case of doubt or possible differences regarding the different versions it is the Swedish version that shall apply.