Ropes & Gray Represents Flight Centre Group in Strategic Investment in The Upside Travel Company
Ropes & Gray represented the Flight Centre Group, one of the world’s largest travel agency operations, in a strategic investment and commercial agreement with The Upside Travel Company, a company that operates a corporate travel platform. The transaction was announced on April 7.
Flight Centre’s strategic investment is for a 25 percent stake in Upside, making it Upside’s largest individual shareholder. As part of the transaction, the parties also entered into a collaborative commercial agreement to develop various distribution initiatives that combine Flight Centre’s global understanding of the corporate travel space with Upside’s travel technology platform and software development resources.
The Ropes & Gray team included IP transactions partners Edward Black and Regina Sam Penti (both of Boston), special situations partner Jonathan Gill (New York), labor & employment partner Douglas Brayley (Boston), tax partner Leo Arnaboldi III (New York), IP transactions associates Gabriel Gillmeyer and Joshua Jackson (both of Boston), and private equity transactions associate Paul White (New York).