Pegasus Solutions has sold its financial services division, Pegasus Financial Services, to H.I.G. Capital, LLC. Confirming the sale, chief executive officer David Millili reported the corporate is now in growth mode with renewed specialise in its core business.
“The move to sell our commission processing division was made to permit us to regulate our attention and resources to the major role we play facilitating billions of booking transactions for our global hotel clients annually,” said Millili.
“We have a responsibility to those hotels not to only understand what they must improve operations, but to also deliver the proper prescribed set of services and solutions to achieve that. Since becoming CEO, we’ve seen that probably the most valuable tools and insights we are able to offer lie within our core distribution and reservations business.” Millili added.
Terms of the sale weren’t disclosed.