mynth
04/2024100%

Vision-Box acquired by Amadeus

PORTUGAL Software / Industry-Specific Software EV €300–700M

Context

This operation represents a strategic corporate acquisition for Amadeus. The operation facilitates a complete and highly successful exit for the historical private equity sponsor and the original founding team, who had robustly scaled the enterprise during a prolonged period of strong growth. The primary strategic rationale underpinning this consolidation is to directly integrate the target's advanced biometric hardware and software capabilities into the acquirer's massive portfolio. This powerful combination will distinctly allow Amadeus to offer a fully comprehensive passenger experience, flawlessly covering every step from initial flight booking through automated border control to final boarding.

Vision-Box, which reported an EBITDA margin of [members only] in 2023, is valued in this transaction at an EV/EBITDA multiple of 15x–25x, standing directly in line with the average observed in the TMT (Tech, Media, Telecom) sector (16.1x in 2024).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Vision-Box is a visionary pioneer and leading global provider of end-to-end solutions for air travel, border control, and identity management applications. Headquartered in Europe, the enterprise offers an outstanding multi-stakeholder software orchestration platform dedicated to traveler-centric ecosystem management. This software-centric platform is perfectly complemented by state-of-the-art biometric hardware touchpoints. Benefiting from rapidly growing global demand for biometrics and digitalized passenger journeys, the fast-growing firm effectively addresses the travel industry's operational pressures and strict regulatory demands.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

15x–25x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2023
€50–100M
€10–30M
[members only]
2022
€50–100M
€10–30M
[members only]

Other operations with Amadeus

Other operations with Amadeus
DateAcquirerTargetCountrySector
04/2026AMADEUSIDEMIA PUBLIC SECURITYFRANCEIndustry-Specific Software

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REFERENCES

Valuation range: EV €300–700M

Revenue range: €50–100M

EBITDA range: €10–30M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 15x - 25x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Vision-Box by Amadeus are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: amadeus

FAQ

What transaction does this page cover?

This page covers Amadeus’s acquisition of 100% of Vision-Box, a Portuguese company specialised in Industry-Specific Software, in 2024.

How was the acquisition of Vision-Box by Amadeus valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €300–700M band, its EV/EBITDA multiple within the 15x - 25x range, and its EV/revenue multiple within the 2x - 6x range. Exact figures are available to members.

What were Vision-Box’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Vision-Box generated annual revenue estimated in the €50–100M range and EBITDA in the €10–30M bracket (FY 2023). Detailed financial figures are available to members.

How does the valuation of Vision-Box compare to benchmarks in the TMT (Tech, Media, Telecom) sector?

With an estimated multiple range of 15x - 25x, the transaction stands directly in line with historical averages for the TMT (Tech, Media, Telecom) sector (16.1x in 2024).

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

What is mynth?

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