NVM’s investment underpins the next stage of our growth, as we aim to become a global leader in our sector.
Intuitive Systems (Intuitive) launched its flagship web-based software platform, iVector, just two years after the business was established. Fuelled by customer demand and the vision of the Intuitive team, iVector is now one of the most advanced platforms for managing travel bookings for online travel agents, tour operators, airlines, hotels, bed banks and transfer providers.
Intuitive use the latest technologies to develop their software platforms that can navigate through complex requirements with ease. The market was primarily based on legacy software, but has evolved from traditional package tour operators to more flexible online travel offerings.
The online travel sector has increased dramatically in the last ten years as internet and ‘no frills’ airlines have disrupted the traditional tour operator market. The European travel industry generated revenues of £187bn in 2011, of which an estimated total booked online was c£64bn. In 2012, iVector’s software platform handled more than 400m searches, resulting in over 2.5m booked passengers.
Lowcosttravel Group sold Intuitive to NVM as part of their reorganisation strategy which started in early 2012, to refocus their operations on the core lowcostbeds and lowcostholidays businesses.
We are very excited to be backing Paul Nixon, Andy Keeley and their team. Under independent ownership they will embark on the next phase of growth to exploit the market across Europe and further afield.
We believe there is a significant opportunity to grow the business within the global online travel industry.