December 10, 2019 | Deals

GCA Altium advises the shareholders of Midoco on their sale to LEA Partners

GCA Altium has advised the shareholders and management team on the sale of a majority stake in Midoco, a market leading provider of midoffice software for all segments of the travel industry, to LEA Partners.

The Midoco Group comprises Midoco and Umbrella AG, which was acquired by the group in 2018. Midoco has customers in more than 60 countries and processes EUR 13bn in travel revenue annually.

Midoco is based in Hilden, Germany and was founded in 2005. The company automates processes and workflows for travel agencies, travel management companies, online travel agencies and tour operators. Midoco has extensive experience in the automation of processes in the travel industry, and its software processes a total of six million airline tickets annually. More than 22,000 users work with Midoco software every day, and its clients include TUI, Lufthansa City Center, Uniglobe Travel, First Business Travel and LMX Touristik.

Umbrella, headquartered in Wetzikon, Switzerland, specializes in synchronizing the profiles of business travellers between booking systems. Umbrella also operates Umbrella .net, a web-based midoffice software. Umbrella is active worldwide.

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