Newspaper article The Canadian Press

Caisse Invests $200 Million in Company That Lets Air Passengers Bid on Upgrades

Newspaper article The Canadian Press

Caisse Invests $200 Million in Company That Lets Air Passengers Bid on Upgrades

Article excerpt

Caisse invests in Quebec company Plusgrade

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MONTREAL - The Caisse de depot et placement has invested $200 million in a Quebec technology company that helps airlines generate additional revenues by allowing travellers to bid on upgrades.

Quebec's pension fund manager says the investment in Plusgrade will help the nine-year-old company to penetrate new international markets and expand its products that help airlines add revenues by optimizing their seat inventory.

Its signature product allows passengers to bid in real time on upgrading, for example, to a premium cabin from economy.

The company is expanding its Montreal headquarters and offices in New York and Singapore.

The Caisse acquired a portion of the shares held by private equity firm TA Associates, that will continue to be a major shareholder along with management and other investors. …

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