i: FAO
| i: FAO AG | |
|---|---|
| legal form | Corporation |
| founding | 1977 |
| Seat | Frankfurt am Main |
| management | Alexander Schott, Karin Frauscher |
| Number of employees | 170 (December 2013) |
| sales | € 14.4 million (2013) |
| Branch | Business software , tourism |
| Website | www.cytric.net |
The i: FAO AG is a provider of so-called cloud services - d. H. Application software provided via the Internet - for planning, booking and accounting for business trips . The system provided is now called Amadeus cytric and is mainly used by companies in German-speaking countries.
history
In 1977 Louis Arnitz founded the “Flugbüro am Opernplatz” in Frankfurt am Main, later FAO Travel . It offered travel services mainly for international artists.
From 1987 the focus shifted to business travel. According to FAO, it operated the first booking system for hotel trips in 1986 and the first online hotel booking system in 1987, from 1994 on the Internet. Other services related to business travel followed. The system has been marketed under the name cytric since 2000 .
In 1997 the venture capitalist 3i took a stake in FAO. In 1998 it was renamed i: FAO , followed by further investment rounds and in 1999 the company went public on the Neuer Markt . The company grew rapidly by buying holdings and a. in Bulgaria and the United States and invested money in startups . In 1999 the group achieved record sales of around DM 41 million .
At the time of the IPO, i: FAO was in the red. The loss situation worsened in the following years, not least due to the crisis in the aviation industry following the terrorist attacks on September 11, 2001 . i: FAO separates from some investments and finally reached to stabilize the economic situation in 2005, the break-even point . Since then, the group has been consistently profitable.
In the years 2005 to 2013, sales rose from € 5.6 to 14.4 million; the EBIT margin improved from 8.4 to 29.5%.
In April 2014, Amadeus , the world's leading provider of flight booking services, announced a voluntary public takeover offer for i: FAO AG.
In November 2016, the FVW magazine Biztravel reported that Amadeus, who had owned 72% of the shares in i: FAO AG for over two years, was planning a complete takeover. In January 2017, Reuters reported that Amadeus increased its stake to 88.73%.
Individual evidence
- ↑ a b c Annual Report 2013 ( Memento of the original dated April 22, 2014 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Company history ( Memento of the original from August 13, 2006 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. at www.ifao.net, accessed on May 8, 2014 (pdf).
- ↑ Development of the i: FAO Group ( Memento of the original from February 14, 2016 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. at www.ifao.net, accessed May 8, 2014.
- ↑ Annual Report 1999 ( Memento of the original dated September 29, 2011 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , www.ifao.net, accessed May 8, 2014
- ↑ Annual Report 2001 ( Memento of the original from March 4, 2016 in the Internet Archive ) Info: The archive link was automatically inserted and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , www.ifao.net, accessed May 8, 2014
- ↑ Annual Report 2005 ( Memento of the original from March 4, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , www.ifao.net, accessed May 8, 2014
- ^ I: FAO annual reports 2005 to 2013
- ↑ takeover offer; <DE0006224520> , www.dgap.de, April 3, 2014, accessed on April 19, 2014.
- ↑ Biztravel article , November 1, 2016, accessed June 10, 2017
- ↑ Reuters Article , January 13, 2017, accessed June 10, 2017
