Düsseldorf, GERMANY, April 14, 2023 – Vela Software, a division of Constellation Software, Inc. (“Constellation”) (TSX:CSU) is pleased to announce the acquisition of Peakwork AG (“Peakwork”), a specialist in distribution connectivity and dynamic packaging for the travel industry.
The acquisition of Peakwork represents an important milestone for Juniper Travel Group (Vela Software’s travel portfolio) in its quest for global recognition as a leader in travel technology by all relevant industry players. This investment will strengthen Peakwork’s unique value proposition for its customers and partners and consolidate its international reach by leveraging Juniper’s global network.
“We are very excited about this transaction. Peakwork will play a pivotal role within our portfolio of travel software companies, bringing an experienced and highly talented management team and a high-performing technology stack to our group. Together, we will be able to deliver better solutions and meet all the IT needs of our customers and partners,” said Mr. Jaime Sastre, CEO of Juniper Group and Founder of Juniper.
Mr. Ralf Usbeck, CEO and Founder of Peakwork, commented: “Joining Constellation gives Peakwork the possibility to gain exclusive access to many industry specialists and resources, which will lead to further enhance Peakwork’s core travel distribution solutions and services. It also reinforces the idea of a bright and secure future for our employees, clients and partners, as I truly believe there is no better home for all of them now and in the long term.” Mr Usbeck is retiring from his position as CEO of Peakwork. Ralf will join the board of Juniper Travel Group as Strategic Advisor to continue to help Peakwork and the entire travel group seize new opportunities, bringing several decades of experience and his strong relationships in the travel industry to the table.
Mr. Sastre and Mr. Usbeck are pleased to announce that Mr. Manuel Saballus, Vice President of Strategy, takes over as CEO of Peakwork.
About Peakwork: Peakwork connects leisure travel suppliers and distributors worldwide through a high-performance middleware platform, forming a global leisure network and marketplace for the production and booking of travel packages in real time. More information can be found at https://peakwork.com.
About Juniper Group: Juniper Group, a portfolio of Vela Software and Constellation, is a fast-growing software conglomerate of Vertical Market Software companies, with a particular focus on the travel, aviation, banking, insurance, healthcare, public sector and oil and gas verticals. Juniper Group currently employs more than 1,500 employees worldwide. More information can be found at https://juniper-group.com.
About Vela Software: Vela Software, a subsidiary of Constellation (a publicly traded company on the Toronto Stock Exchange), is a family of enterprise software companies constantly focused on acquiring, managing and building world-class businesses. More information is available at https://velasoftwaregroup.com.