HONG KONG, August 1 /PRNewswire-FirstCall/ -- Galileo International, a
leading global distribution services company and subsidiary of Cendant Corp.
(NYSE: CD), today announced it has acquired the business and assets of World
Data Systems Co Ltd (WDS) -- its distribution partner in Taiwan -- and
transferred them to Galileo Taiwan, a new wholly owned subsidiary. The terms
of the transaction were not disclosed and is immaterial to Cendant.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020729/GALILEOLOGO2 )
Galileo entered the Taiwan market in 1991 in a partnership with WDS World
Data Systems. With the largest share of the travel agency e-commerce market
in Taiwan, Galileo Taiwan will continue to operate out of three locations,
with its main office in Taipei and additional premises in Taichung and
Kaohsiung. Galileo Taiwan will be headed by Brenda Tang, general manager, who
comes to the subsidiary from WDS, which she joined in June 1998. With more
than 17 years in the travel industry, Tang previously held positions with
Utell International and Delta Airlines.
Janie Kaung, executive vice president and managing director of Galileo's
Asia Pacific region, said: "This acquisition is another step in our previously
stated 'tuck in' strategy to increase our control in target markets, thereby
enhancing service to our customers through a direct relationship and in
growing Galileo's market presence. As a wholly owned subsidiary, Galileo
Taiwan strengthens our regional network and strengthens our commitment to the
Asia Pacific market.
"We expect it to play a particularly important role in building our
business in Greater China, where there are clear opportunities for creating
synergies between Galileo and other Cendant-affiliated businesses. Galileo
Taiwan will introduce new and increase existing services in the region and
ensure we deliver the most complete content to our customers."
The transition from WDS to Galileo Taiwan will be seamless for Galileo's
agency customers with their operations unaffected by the acquisition. As a
wholly owned subsidiary, Galileo Taiwan strengthens the Company's regional
network, reinforces its commitment to the Asia Pacific market and increases
Galileo's global footprint.
About Galileo International
Galileo International is a global technology leader. Its core business is
providing electronic global distribution services for the travel industry
through its computerised reservation systems, leading-edge products and
innovative Internet-based solutions. Galileo is a value-added distributor of
travel inventory dedicated to supporting its travel supplier, agency and
corporate customers and, through them, expanding traveler choice. A
subsidiary of Cendant Corporation, Galileo is part of Cendant's Travel
Distribution Services Division and is headquartered in Parsippany, New Jersey,
USA, with offices worldwide. Visit http://www.galileo.com.
About Cendant's Travel Distribution Services Division
Cendant's Travel Distribution Services Division is one of the world's
largest and most geographically diverse collections of travel distribution
businesses. The division, employing some 5,000 people in more than 110
countries, includes: Galileo, a leading global distribution system (GDS)
serving more than 47,000 travel agencies and over 51,000 hotels; hotel
distribution and services businesses (Trust, THOR, WizCom); leading travel
agencies, including Cheap Tickets and Lodging.com; an airline market
intelligence company; and Highwire, a corporate travel booking company.
SOURCE Galileo International
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Related links:
http://www.galileo.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20020729/GALILEOLOGO2
CONTACT:
Stuart Ridsdale of Galileo Asia,
+852-2821-2301, stuart.ridsdale@galileo.com, or Jill Brenner of
Galileo Americas, +1-973-496-5870, TDS.corpcom@cendant.com
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