A UK company that has developed technology that allows passengers to download boarding passes onto their cell phones has been spun out of its parent group in a GBP27.8 million (USD$42 million) deal. The Scotland-based Amor Group, previously part of French IT company Sword Group, is in talks with a number of airlines about using its First Pass technology, which transfers a boarding pass bar code to a cell phone. The technology is currently being trialed by bmi and Lufthansa.
The company originally saw the technology as a product for premium passengers, but said it is in talks with several low-cost airlines about the possibility of charging customers for use of the technology and thus generating a new revenue stream. Another Amor product involves using technology to monitor the length of queues in airports by tracking people with Bluetooth devices.
The buyout deal was backed by London private equity firm Close Growth Capital and Scottish Enterprise, the Scottish economic development agency, with debt funding from the Clydesdale Bank. Sword Group will retain a 22.5 percent stake in Amor. AirGuide TravelTech: www.airguideonline.com/traveltech.htm