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Press Release

Keensight Capital sells Vision-Box to Amadeus

By January 31, 2024No Comments

Press Release | January 31, 2024

Keensight Capital sells Vision-Box to Amadeus

Keensight Capital, one of the leading private equity funds dedicated to pan- European Growth Buyout[1] investments, is pleased to announce the sale of Vision-Box, a leading end-to-end solutions provider with a software-centric platform for seamless journeys based in Portugal, to Amadeus, a major multinational technology company that powers the global travel and tourism industry, for an Enterprise Value of approximately €320 million.
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Founded in 2001, Vision-Box is a visionary pioneer and leading global provider of solutions for air travel, border control and ID management applications offering an outstanding multi-stakeholder software orchestration platform for end-to-end traveler-centric ecosystem management, coupled with highly complementary, state-of-the-art biometric hardware touchpoints. Vision-Box is a fast-growing global business with expected 2023 revenues of c. €70 million.

Keensight Capital has been an investor in Vision-Box since 2015, alongside the co-founders Miguel Leitmann and Bento Correia, and has supported the company and its management during a period of very strong growth. Vision-Box benefitted from a fast growing demand for biometrics and border control solutions, driven by the travel industry’s increased focus on the digitalization of the passenger journey to improve the experience of travel, meet operational pressures, and deliver against regulatory demands.

Amadeus technology makes the experience of travel better for everyone, everywhere. The acquisition of Vision-Box will bring new capabilities around biometrics hardware and software to Amadeus, adding border control solutions to the Amadeus portfolio. Through this combined offering with Vision-Box, Amadeus will now be able to deliver a full end-to-end seamless passenger experience from booking to arrival at the airport, through border control and boarding.

Miguel Leitmann, co-founder and CEO of Vision-Box, said: “I’m extremely grateful to Keensight’s excellent partnership since 2015. They supported us on many fronts with our quest to become a globally operating visionary pioneer and leading global provider of solutions with a software-centric platform for air travel, border control and ID management applications in a fast-changing technology landscape.

Jean-Michel Beghin, Managing Partner at Keensight Capital, concluded: “We are extremely proud of Vision- Box’s achievements since 2015 and we believe Amadeus will be a great partner for the company. We thank Miguel for his great leadership. He transformed the company with the effort and hard work of the whole team. We wish him and all employees the very best for this new exciting chapter of the company’s development.

Houlihan Lokey acted as exclusive financial advisor to Vision-Box and Keensight Capital.

[1] Growth Buyout: investment in profitable, private companies experiencing strong growth, in minority or majority positions, with or without leverage, using a flexible approach tailored to the needs of individual entrepreneurs, in order to finance organic growth projects, acquisition strategies or provide historic shareholders with liquidity.

About Keensight Capital
Keensight Capital (“Keensight”), one of the leading European Growth Buyout firms, is committed to supporting entrepreneurs as they implement their growth strategies. For over 20 years, Keensight Capital’s team of seasoned professionals has leveraged their knowledge of investment and growth industries to invest for the long term in profitable companies with high growth potential and revenues in the range of €10 million to €400 million. Drawing on its expertise in the Technology and Healthcare sectors, Keensight identifies the best investment opportunities in Europe and works closely with management teams to develop and achieve their strategic vision. Keensight Capital’s success has also earned it a Gold Award from the Private Equity Exchange & Awards each year for the last seven consecutive years, and in particular, the Best European Growth Private Equity Fund.

Press contacts

Keensight Capital
Cindy Giraud, Director of Communications – +33 (0)6 37 96 55 37

H/Advisors for Keensight Capital
UK: David Stürken – +44 (0) 799 059 5913
France: Mael Evin – +44 (0)6 44 12 14 91

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