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AMS.MC · Technology · Information Technology Services · Market cap $24.28B

1 fund in our archive has pitched Amadeus — most recently Troy Asset Management Global Equity Strategy in July 2026.

Company profile

Amadeus IT Group, S.A., together with its subsidiaries, operates as a transaction processor for the travel and tourism industry in Europe, Central and South America, the Middle East, Africa, and Asia Pacific. It operates in three segments: Air Distribution, Air IT Solutions, and Hospitality & Other Solutions. The company acts as an international network providing real-time search, pricing, booking, ticketing, and other processing solutions through Amadeus GDS, Altéa Passenger Service System, and New Skies platforms. It also offers travel providers a portfolio of technology solutions, which automate certain mission-critical business processes, such as reservations, inventory management, payments, and departure control. In addition, the company is involved in the installation of industrial machinery and equipment; provision of mobility, insurance and ferry, travel advertising, software development and definition, software distribution, distribution, regional support and management, data processing, intermediation, computer consulting, consultancy and technology development for digital invoicing and payments, and information technology services; and e-commerce business. It serves providers of travel products and services, such as network, domestic, low-cost, and charter carrier airlines; airports; independent property and big chain hotels; mainstream, specialist, and vertically integrated tour operators; insurance companies; land and sea transport companies, including car rental, railway, cruise line, and ferry line companies; travel sellers and brokers, such as offline and online travel agencies; and travel buyers. The company was formerly known as Amadeus IT Holding, S.A. and changed its name to Amadeus IT Group, S.A. in August 2016. Amadeus IT Group, S.A. was founded in 1987 and is headquartered in Madrid, Spain.

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Letters

Fund activity · 5 positions

  • HoldsTroy Asset Management Global Equity Strategy
    July 2026
    Amadeus has been a significant detractor from performance over the past year, with the shares falling -20% year-to-date.
    Read the letterAmadeus
  • HoldsHarding Loevner International Equity
    June 2026
    Last quarter we discussed the potential for airline reservation software network Amadeus or employment platform Recruit to use AI in their own operations before any new AI-enabled startups can dislodge them from their strong competitive positions.
    Read the letterAmadeus
  • HoldsHarding Loevner International Developed Markets Equity
    June 2026
    Last quarter we discussed the potential for airline reservation software network Amadeus or employment platform Recruit to use AI in their own operations before any new AI-enabled startups can dislodge them from their strong competitive positions.
    Read the letterAmadeus
  • HoldsHarding Loevner International Equity ADR
    June 2026
    Last quarter we discussed the potential for airline reservation software network Amadeus or employment platform Recruit to use AI in their own operations before any new AI-enabled startups can dislodge them from their strong competitive positions.
    Read the letterAmadeus
  • HoldsHL Global Equity ADR
    May 2026

    Listed in HL Global Equity ADR’s reported holdings.

    Read the letterAmadeus

Fund coverage · 1 thesis

  • Troy Asset Management Global Equity Strategy
    July 2026

    Amadeus is argued to have durable, high-margin travel infrastructure businesses, resilient distribution volumes, and underappreciated growth in Air IT and hospitality at an excessive valuation discount.

    Read the full thesis

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