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Triton Finalizes Its Acquisition of ZTS
Combining the Two Companies Creates a Powerhouse of Innovation, Leading and Changing the Face of Travel Distribution.
SAUSALITO, Calif.--(BUSINESS WIRE)--Triton (OTCBB:TTDS), has finalized its acquisition of ZTS, a multi faceted German based travel services company that for over twenty years has formed and built relationships with some of Europe’s largest and most respected travel providers creating a growing brand with a loyal following. Triton will immediately assume 100% control and the purchase is being financed in the form of a five year note, no equity will be issued related to the acquisition.
ZTS' customers bought over $147 million (USD) of travel, resulting in net revenues of over $4 million for its fiscal year ending December 31, 2007. Escrow is expected to close in the next few days. Thereafter, Triton expects to file an 8K within the required 45 days which will include consolidated financials in US GAAP.
The synergistic effect of the combination of both companies creates a breakthrough opportunity from a technological, marketing and sales perspective. The acquisition immediately provides Triton with an established European hub of sales, marketing and customer support empowering Triton to successfully exceed the requirements of its current European clientele.
Currently in a beta version, both Triton and ZTS have combined their next generation desktop tools (ReservationExpert™ and Tour Select™ respectively) to be known as ReservationExpert-TourSelect™ and made available to selected users of ZTS' 15,000 agency base. Even in this early stage of integration, Triton is witnessing ZTS users requesting to switch to the new, integrated product.
The US and Asian markets will benefit immensely from the new product, gaining access by association to more that 70 European tour operators which includes inbound and outbound operators, rail, cruise, hotel, car and flight operators. Conversely, the European market will benefit through Triton's exclusive Chinese content and US content.
Triton now offers a broad suite of travel related services. This includes a CRS and CRM tool, a consumer web booking engine which allows passengers to pick and choose their own tours, transfers, special events and more and bundle them, in real time with flights and hotels. This highly customizable solution offers agents an efficient and cost effective method to create an online presence using Triton core technology and its global inventory.
In addition, ZTS provides a hotel online reservation solution with the ability to package additional services, an e-commerce solution which provides tourism distribution solutions in the B2B and B2C markets and a rail inclusive tour solution. ZTS currently provides an RIT solution for the Deutsche Bundesbahn (one of Europe’s largest rail vendors), has distribution rights for Europe’s largest travel vendors including Best Western Hotels, Steigenberger Hotels and A-Rosa Cruise Lines and has access to all four Global Distribution Systems. Additionally, ZTS holds an IATA license and provides fulfillment, cash management and clearing services for a variety of travel agents and vendors.
This acquisition provides Triton with a European customer support center and a second data center to complement its North American operations. The European center will allow Triton to remove a major impediment to successfully meeting the requirements of its current European customers.
This development continues Triton’s long-term strategy and immediately establishes Triton with a solid European footprint allowing any user of ReservationExpert, TourSelect or the new ReservationExpert-TourSelect access to global travel inventory bookable anywhere in the world.
“This acquisition provides us with a set of deals for European travel that would have taken years to individually negotiate, a trusted and loyal customer base and little to no duplication of corporate services. It is, in no uncertain terms, a wonderful opportunity for us,” said Gregory Lykiardopoulos, Chairman and CEO of Triton.
“The opportunities to succeed and synergies for the two companies, on both side of the Atlantic were too large to be ignored. We are looking forward to building on our successes, to create a much larger and stronger international corporation,” said Michael Zartman, Founder of ZTS.
About ZTS
ZTS ZTS – Informationssysteme und fulfillment GmbH (www.zts.net) has been providing and developing IT solutions and fulfillment services for the tourism industry for more than 20 years. They deliver their philosophy of “Help our customers sell” by enabling suppliers with target oriented support in distributing their products with individual concepts for software and services.
About Triton Distribution Systems
Triton Distribution Systems is a pioneer in low-cost, business-to-business, Internet-based travel distribution and procurement solutions. Triton provides the electronic distribution of travel inventory from airlines, car rental companies, hotels, tour and cruise operators, and other travel vendors to travel agencies and their clients on a global basis. Triton's proprietary products and services fill crucial needs in the travel industry, and offer product, pricing, and marketing advantages. Triton has developed a broad-based suite of products, including ReservationExpert™, TritonTwist™ and Red Dragon Express™ -- the world’s first distribution gateway to the Chinese market.
FORWARD-LOOKING STATEMENTS This news release includes forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
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