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July 2008
Madison Park Group is pleased to announce its latest transaction – the sale of Ground Travel
Technology Team (GT3), the leading provider of travel automation software and services for the
ground transportation industry, to Global Ground Automation, a subsidiary of Rearden
Commerce.
New Jersey-based GT3 has two operating business units: Saturn Reservation Systems, a ground
transportation booking platform connecting travel agents, their corporate clients and consumers
to the ground transportation and limousine industry; and Odyssey, a comprehensive management
information system for ground transportation service providers.
Over 3,000 corporations, including major companies such as American Express, Compaq,
Deloitte & Touche, Merch, Pfizer and Sony, utilize the Saturn network. Odyssey software is
used at over 200 ground transportation service providers including 40 of the top 100 fleets in the
U.S. ground transportation industry.
Rearden Commerce is based in Foster City, CA, and is the developer of an innovative web-based
services procurement platform. Over 1,700 companies representing over a million users
currently utilize the Rearden platform to procure services and products from a network of over
137,000 merchants and application providers. Rearden Commerce has received over $200
million in funding since inception from major VC firms and strategic partners including
American Express, Empire Capital Partners, Foundation Capital, JPMorgan Chase, Oak
Investment Partners and Palo Alto Investors.
Madison Park Group acted as exclusive financial advisor to GT3 in this transaction.
Madison Park Group is an investment banking firm focused on advising technology and business
services companies on pursuing M&A and private equity transactions. Madison Park Group’s
principals have extensive transaction and operating experience in the technology and business
services sectors and have executed over $30 billion in financing and M&A transactions. |
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