Eyrir became a principal investor in Calidris holding in excess of 25% of total share capital in 2007. Since then Thordur Magnusson has been the Chairman of the Board. Calidris is an excellent example of Eyrir‘s „Buy and Build“ strategy where Eyrir is instrumental in setting the strategy of the company. Today Calidris is ready for a new step in its development and in order to make full use of the opportuninties for Calidris supberb technical solutions. The company has now a strong sponsor to sell the solutions in the global market.
From the Caldiris website:
Sabre Holdings acquires Calidris
Sabre’s Revenue Integrity capabilities to be enhanced
SOUTHLAKE, Texas, March 29, 2010 – Sabre Holdings announced today the acquisition of Iceland-based Calidris ehf, a revenue integrity and business intelligence solutions company. This acquisition will result in a breakthrough revenue integrity solution, flexible enough to help airlines make more money, and move beyond traditional processes of just preventing revenue loss.
Calidris will become part of Sabre Airline Solutions, the world’s leading provider of integrated solutions and services for airlines and airports. The acquisition is part of Sabre’s long-term growth plans and continual investments in the company’s airline portfolio.
“Sabre has a history of acquiring smaller product companies all over the world that are leaders in their field and building them up to greater success” said Steve Clampett, president of Airline Solutions and Products for Sabre Airline Solutions. “The Calidris team brings core capabilities to Sabre and we look forward to building on that to expand the role of the Reykjavik office within the Sabre organization.”
Calidris’s revenue integrity, business intelligence and data capabilities will become part of Sabre’s broad integrated suite of airline products and be made available to more than 300 airlines that use Sabre products today.
“I view Calidris as a model entrepreneurial company. It is built on a strong vision of building a superior product that could create great value in a well-defined niche on the world market. We are proud to have been part of that success and happy to see Calidris enter the next stage in its growth” said Thordur Magnusson of Eyrir Invest, Chairman of the Board of Calidris.
The enhanced revenue integrity solution allows quick and easy access to business data making it an integral part of successful revenue planning and revenue generation not available today. It also gives airlines a more responsive, smarter, well-tuned and fluid customer sales and service environment.
“Becoming part of Sabre Airline Solutions is exciting for Calidris as together we will make a tremendous difference in the success and growth of airlines worldwide,” said Magnús Óskarsson, chief executive officer of Calidris.
Kolbeinn Arinbjarnarson, co-founder and board member of Calidris added, “We expect great things from this transaction, including technology growth and innovation. We see this as an important step towards continued growth of our operations and strengthening our development efforts here in Reykjavík.”
“Calidris has been validated by some of the world’s leading airlines and is a very innovative company that has developed some powerful technology that will move Sabre and the airline industry forward in the area of revenue integrity,” Clampett said.
About Sabre Airline Solutions
The world’s leading provider of integrated solutions and services for airlines and airports, Sabre Airline Solutions helps companies generate more revenue by optimizing performance in 14 key areas of airline operations. More than 300 leading carriers and over 100 airports use Sabre Airline Solutions to better market their schedules, sell their products, serve their customers and operate efficiently. Sabre Airline Solutions was founded in 1960. For more information on Sabre Airline Solutions, please visit www.sabreairlinesolutions.com