G2Switchworks who has been trying to raise money for the last few months has been unsuccessful and now succumbed to the wiles of the French/Spanish by agreeing to be bought out by Amadeus
The deal has been in the works for months off and on. The US credit crunch exacerbated by the slow development of the core platform has left the company with few options. The existing shareholders were unwilling (and in some cases unable) to pony up any more cash. Looks like today G2 ran out of cash.
This leaves Farelogix in an interesting position.
It also leaves the airlines in somewhat of a quandary. They (the airlines) now have few options to alternative distribution in the neutral world. Plus they all signed rather stringent contracts which will enable the GDSs to squeeze some more blood out of the stone.
Thanks to the legions of people who ping'd me on this one.
Looks like there are some folks in Chicago looking for a new gig. The biz folks are the most affected, the techies get to stay and become part of the monster.
Cheers
Timothy
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