Travelport Worldwide Ltd (NYSE:TVPT) will be included in the place of Bob Evans Farms Inc (NASDAQ:BOBE) in the S&P SmallCap 600 from January 17, 2018. Post Holdings Inc (NYSE:POST) is buying Bob Evans Farms in a deal projected to be completed around January 12. As it is known, Travelport Worldwide marks as a travel commerce platform offering technology, distribution, mobile, payment and other solutions for the international tourism and travel market. Headquartered in Langley, U.K., the firm will be included to the S&P SmallCap 600 Global Industry Classification Standard sub-industry index of Data Processing and Outsourced Services.
Travelport reported its Q3 2017 financial reported in the month of November. Gordon Wilson, the CEO and President, expressed that their travel commerce platform offered revenue growth of 5% for Q3 2017, which comprised revenue growth across all global regions and an especially remarkable performance in Asia where they continue to get air market share.
Their leadership has been further solidified by their association with India’s leading OTA, MakeMyTrip, along with the finalization of Traveloka, which is the major OTA in Indonesia. It will now use their technologies to grow across Asia. Travelport reported that in Beyond Air, they continue to witness good momentum in car and hotel bookings, while their commercial payments business named eNett grew to 30% revenue growth for Q3 2017, led by transaction growth with many major Asian and European OTAs.
Their adjusted EBITDA dropped in the third quarter, with many of their intended technology investments transitioning from design to implementation stage, as they further expand their capabilities and products. They also recorded higher commercial expenditure pertaining to the growth and underway implementation of their signed new business. As company’s mix of business sustains to pivot towards the rapidly-growing web channel, he is assured that these investments will lead sustainable longer-term growth.