Gentrack buys controlling stakes in two airport software firms for $19.8 million

Sun, 23 Apr 2017

By Paul McBeth April 24 (BusinessDesk) - Gentrack Group wants to double earnings from its airport software business by 2019 after buying controlling stakes in two European companies for some $19.8 million. The utilties software developer will pay 41 million Danish krone, or NZ$8.4 million, for 79.8 percent of Denmark-based Blip Systems and 7.5 million euro, or NZ$11.4 million, for 75 percent of Malta-based CA Plus, it said in a statement. Both acquisitions have three-year earn-out agreements for the remaining stakes, and will be funded t...

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