Spain's Amadeus buys NMTI Holdings for $500 million

MADRID Wed Dec 18, 2013 11:50am EST

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MADRID Dec 18 (Reuters) - Spanish travel technology company Amadeus said on Wednesday it is buying U.S. technology group NMTI Holdings and its affiliate group Newmarket for $500 million.

Newmarket, a provider of cloud-based technology solutions for the hotel market, is present in 154 countries and expects revenues of around $110 million in 2013.

Amadeus expects to finalise the acquisition, once given regulatory approval, in the first quarter of 2014, the Spanish company said in a statement.

Amadeus will finance the acquisition through a 5-year, $500 million loan with Bank of Tokyo-Mitsubishi and the Royal Bank of Scotland, it said.

In a separate statement, Amadeus said it planned to leave its dividend policy unchanged for 2013 with a payout of 50 percent of profit. (Reporting by Tracy Rucinski; Writing by Paul Day)

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