Acquisition becomes Wings Tech as IT development moves to Cyprus.
Wings Global Travel has bought data management specialist Alchimea to bring control of critical digital transformation technology in-house. The software firm, renamed Wings Tech, has moved its operations to Cyprus, southern Europe’s emerging IT innovation hub.
Wings completed the acquisition of Alchimea, which provides the central database capability at the heart of the WingsOne global service platform, after several years as a majority investor.
The move reflects the growing importance of digital technology in the travel industry and Wings’ CEO and founder Tony Sofianos’s belief in the need for close control of strategic assets.
Sofianos said: “Wholly owned and managed operations and great technology are what set us apart from other TMCs and enable us to provide a seamless global service. We don’t believe in using third parties for anything we can do ourselves, which is why every one of our 16 international hubs is a Wings business run by Wings staff. Completing the acquisition of Wings Tech gives us the same level of control of our technology.”
Frank Palapies, Global CIO of Wings, said: “Moving data has become critical to how you move people. Wings Tech’s middleware helps us to manage the transactions and information flows that our team and their clients depend on, from sourcing the best fares and consolidated reporting to delivering realtime data to keep travellers safe and well-informed. This capability underpins everything we do, so we need to own it.”
Wings Tech will be responsible for the ongoing development of Wings’ digital infrastructure and services from its new Cyprus base.
Positioned between Europe, Africa and Asia, Cyprus is fast becoming a regional hub for entrepreneurship and innovation. “The Cyprus government is investing heavily in the technology sector, which makes it an attractive location for businesses. The climate and great transport links also make it appealing to IT talent,” Palapies said.
Wings expects the existing Wings Tech Cyprus team to grow to around 30 by the end of the year.
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