Peakwork AG, the dynamic packaging and distribution connectivity specialist for the global travel industry, is pleased to announce its acquisition by Constellation Software, Inc., a publicly listed global conglomerate of vertical market software businesses (TSX:CSU). Peakwork is joining Vela Software, one of the six divisions of Constellation Software, becoming part of Juniper Group together with other core vertical travel software companies such as Juniper Travel, TPF Software, T4W, Airport Information Systems and IST, among others.
This strategic milestone and new investment will strengthen Peakwork’s unique value proposition for customers and partners as well as consolidating its international exposure by taking advantage of Juniper Group’s global travel network. For Constellation, the acquisition of Peakwork represents an important milestone in pursuit of being globally recognized as the leading travel technology player through its Juniper Travel Group by all relevant industry players.
Importantly, Peakwork and the new owner are committed to preserving Peakwork’s brand, culture, and operational integrity. The company will continue to operate independently, maintaining its identity, leadership, and team. Clients can expect business as usual with no disruptions to their services or relationships with Peakwork.
Ralf Usbeck, CEO and Co-Founder of Peakwork, commented: "Joining Constellation will give Peakwork exclusive access to many global industry specialists and resources which will strengthen Peakwork’s leading travel distribution solutions and services. Constellation Software represents the perfect match and best home for Peakwork as they recognize the power and strengths of the Peakwork network and are committed to its long-term expansion.”
Jaime Sastre, CEO of Juniper Group and Founder of Juniper, said: "We are extremely excited about this transaction. Peakwork will play a principal role within our portfolio of travel software companies, adding a senior and very talented management team and high-performing technology stack to our group. Together, we will be able to offer better solutions and cover all the IT needs of our customers and partners."
As part of this acquisition, Ralf Usbeck will step back from his role as Peakwork CEO. With his decades of experience and strong relationships in the travel industry, he will join Juniper Travel Group’s Board of Directors as Strategic Advisor, supporting Peakwork and the group to tap into new opportunities.
Jaime Sastre and Ralf Usbeck are delighted to announce that Manuel Saballus, currently acting as Peakwork’s Chief of Staff and VP of Business Development & Strategy, will take the role as new CEO of Peakwork. Manuel brings 20 years of experience in travel technology and is very well connected in the international travel industry. He is a recognized expert in managing the team in complex IT and digitalization projects across large tourism companies in the tour operator, airline, and hotel provider space.
Manuel added: “Our new home within Constellation, Vela Software, and the Juniper Group offers immense potential for our clients. This acquisition presents exciting opportunities for growth and collaboration while ensuring that our clients continue to receive the exceptional service that they have come to expect from us."
About Juniper Group:
Juniper Group, a portfolio of Vela Software and Constellation, is a fast-growing software conglomerate of Vertical Market Software companies, having a particular focus on travel, aviation, banking, insurance, healthcare, public sector and oil & gas verticals. Juniper Group currently employs over 1,500 employees all over the world. More info at https://juniper-group.com
Founded in 2009, Peakwork AG is the dynamic packaging and distribution software specialist for the travel industry. With its globally unique Player Hub technology, Peakwork has created a dynamic production and distribution network for the travel industry that connects global supply and demand.
Leading international tour operators and service providers rely on Peakwork solutions with connections to global hotel and flight providers for dynamic travel production. The technology for flexible and internationally scalable travel distribution is designed for massive traffic and benefits, in particular from the connection to global meta searchers and distribution networks.
A pioneer of traveltech decentralization and access to numerous enterprise-scale travel market players, Peakwork is the first mover and leading provider for blockchain-based Web3 applications for the travel industry.
In around 50 markets worldwide, travelers can search and book their dream vacation on the Player Hub network, including the next level of Web3 travel technology.
Peakwork has been advised by Lincoln International AG and P+P Pöllath + Partners.