Airport IT specialist sold in £20m deal
A firm which specialises in airport IT systems has been sold in a deal valued at £20m.
Ultra Airport Systems – which is based in Wythenshawe close to Manchester Airport – has been bought by American firm ADB Safegate.
Ultra Airport Systems products are used by about 150 hub and 100 airlines.
The systems are designed to improve operational performance, baggage management and passenger processing.
Last year the business had revenues of £18.9m and an operating profit of £3.2m.
Assuming satisfaction of all closing conditions, the deal is expected to complete by the end of next January.
Simon Pryce, chief executive of Ultra, said: “Although Airport Systems has been a part of Ultra for some time, it has little customer, process or technology commonality with the rest of the group.
“As part of our focus on long term sustainable value creation and after conducting an appropriate process, we have therefore concluded that a sale of Airport Systems to ADB SAFEGATE is the best long term solution for Airport Systems customers, employees and other stakeholders and represents good value for Ultra.”
ADB Safegate chief executive Christian Onselaere said: “As well as combining Ultra AS’s airport systems expertise and experience with ADB Safegate’s airport performance approach, we have set up a dedicated new TAM business unit to develop advanced analytics solutions.
“We have a real opportunity to become a leader in this exciting field.”
The existing offices of Ultra AS in the UK, France, South Africa, US, and China will join ADB Safegate’s 35 offices worldwide.
Ultra AS managing director Sébastien Jodeau said: “About 150 airports and 100 airlines currently use Ultra AS software.
“We are confident these numbers will rise as ADB Safegate, which works with more than 2,500 airports in 175 countries, helps the team extend its global reach.
“Through this transaction, we will join a large, aviation-focused group with strong financial backing creating many new opportunities to support our customers worldwide.”
