SOURCE: Farelogix

March 02, 2005 08:00 ET

Farelogix Receives $6M in Series C Round of Funding From Sandler Capital

Jim Davidson and Michael Marocco Join the Farelogix Board of Directors

TORONTO -- (MARKET WIRE) -- March 2, 2005 -- Farelogix Inc., a leading provider of independent faring and multi-source distribution technology to the global travel industry, today announced it has received US$6M from Sandler Capital Management in a Series C funding round. The capital will fund the company's steady growth through profitability and will be deployed to support a number of strategic initiatives, including expanding global sales and marketing efforts; building a world-class management team; and relocating the corporate headquarters to Miami. Farelogix will also use the funds for continued enhancement to its highly successful FLX™ Platform and independent faring and pricing applications.

In conjunction with this round of financing, Farelogix has also added Jim Davidson, company President and CEO and Michael Marocco, Senior Managing Director and head of private equity investing at Sandler Capital Management, to its Board of Directors. Davidson, an industry veteran, brings many years of technology experience in the global travel sector to the Farelogix board of directors. Previously, he was President and CEO of Amadeus Global Travel, North America (Amadeus GDS), an international developer of reservations and technology solutions for the travel industry. At Amadeus, Davidson led the introduction of the Amadeus web-based reservation system into the North American market.

"We are very excited about the value proposition that Farelogix brings to the table," said Marocco. "It is a company with a strong business model and leading technology that has already gained widespread recognition for its innovation. The Farelogix solution is well suited to meet the evolving needs of the global travel industry of the future. Their timing for continued growth and expansion could not be better."

"This recent investment will be instrumental in funding our growth as we become a significant competitor in the travel technology and distribution solutions industry," said Davidson. "It provides us with the capital we need to put together a high-powered, experienced and talented executive team; engage in an aggressive sales and marketing push to address the immediate needs of the marketplace; and enhance our FLX™ multi-source and independent pricing platform for global penetration. It also enables us to move our headquarters to Miami to better align ourselves with the market opportunity."

About Farelogix

Farelogix is a leading provider of multi-source distribution and independent faring solutions to the global travel industry. Founded in 1998, Farelogix has been providing sophisticated faring solutions and multi-source content to some of the largest travel companies in Canada and the United States including Navigant International, American Express and Carlson Leisure Group. Farelogix products are based on state-of-the-art, patent pending technology that supports all major Global Distribution Systems (GDS), direct airline reservation connectivity and Internet fare sources. Farelogix has offices in Toronto, Ontario and Miami, Florida.

About Sandler Capital Management

Sandler Capital Management, a registered Investment Advisor, has managed both hedge funds and private equity funds since 1980 and 1989, respectively. The firm has $1.5 billion in combined assets under management and uninvested commitments (including approximately $135 million of uninvested committed capital for new private equity investments). For more information on Sandler Capital, please visit www.sandlercap.com.

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