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Philip Weinman Locomote

Billion-dollar Nasdaq-listed travel commerce platform Travelport has taken control of Melbourne-based tech start-up Locomote upping its stake in the company to 55 per cent and installing a new chief executive. 

Terms of the investment will not be disclosed but The Australian Financial Review understands that Travelport's stake in Locomote is now worth between $50 million to $100 million, with the new stake being worth multiple millions.

Locomote is a business travel and expense platform headed by serial entrepreneur Philip Weinman, who has been founding successful technology companies since HISoft in 1983. It has more than 200,000 users at clients including Australia and New Zealand Banking Group, Allen & Overy and Medibank. 

To read the full article which was created by the AFR click here

further coverage on this story:

Tnooz: Travelport takes majority share of Locomote

Travel Weekly: Travelport buys majority stake in corporate travel tech firm

miceBTN: Travelport takes majority Locomote shareholding

Karryon: Travelport increases investment into Locomote

ETB Travel News: Travelport takes majority share of Aussie start-up, Locomote

Daily Bulletin: Travelport takes majority share of Aussie start-up, Locomote

Travel Trends: Travelport Increases Stake In Locomote to 55%

Travel Daily Asia: Travelport takes majority stake in Locomote

Travolution: Travelport ups shares in Australian start-up Locomote to 55%

Travel Daily News: Travelport takes majority share of Aussie start-up, Locomote

TTG Asia: Travelport takes majority share of travel start-up

Locomote Demo