The News

Sofinnova Partners portfolio Company Sprice Sold to Travelport

25/05/2010

London, UK. – May 25, 2010 – Sofinnova Partners, a leading European venture capital firm, today announced that Travelport has signed an agreement to acquire Sofinnova portfolio company Sprice, a travel meta search engine that facilitates user’s experience in the complex space of travel websites. The company is also backed by Walden International. Sofinnova Partners was the lead investor in the first round of financing in 2006.
“We are very pleased that Sprice technology has been recognised by a prestigious group like Travelport,” said Olivier Sichel, a partner at Sofinnova Partners. “Since 2006, Sofinnova has constantly supported the team in its development of the company.” The sale, following that of Sensitive Objects and Streamezzo, once again confirms that Sofinnova Partners nurtures technologies and builds companies that are recognized as important by the large corporate players.

Thanks to its advanced technology based on metadata, Sprice.com offers its users a free single point of entry to search travel sites in real time and to find the opportunity adapted to their needs, from airlines tickets and hotel rooms to holiday packages. Today’s announcement compliments Travelport’s offering and will enable the enterprise to distribute richer and more diversified content to its clients.

From landmark historical investments including Genentech, Vistaprint and Biogen to more recent successes such as Vistaprint, CoreValve, Fovea, Novexel, Sensitive Object and Streamezzo, Sofinnova has a history of discovering and nurturing companies and entrepreneurs in the technology and life sciences and the cleantech industries. Its team of partners, associates and analysts, and its network of entrepreneurs and consultants have been instrumental in investing in nearly 500 companies throughout the firm’s 35-year history.
Sofinnova Partners was also awarded the prize "European Venture Capital Fund of the Year" by Private Equity International in 2009.

About Sofinnova Partners
Sofinnova Partners is an independent venture capital firm based in Paris, France. For over 35 years, the firm has backed nearly 500 companies at different stages of development – pure creations, spin-offs, as well as turnaround situations – and worked alongside Europe’s key entrepreneurs in the technology, life sciences and cleantech sectors. With €1.1 billion of funds under management, Sofinnova Partners’ experienced team and hands-on approach in building portfolio companies through to exit have created market leaders, from landmark historical investments including Genentech, Actelion and Vistaprint to more recent successes such as CoreValve, Novexel, Fovea and Sensitive Object. With a global mindset, the firm has a sister organization in San Francisco, California.