German media firm Intermedia has acquired European flight claims company Flightright.
Flightright, founded in 2010, helps air passengers claim money back following delayed or cancelled flights.
Intermedia, based in Ludwigshafen, acts as a holding company for activities in the field of specialist media.
Philipp Kadelbach, founder of Flightright, said: “We are happy that we have found a partner that can open new doors for us in order to build on our vision to become the leading legal tech platform across various disciplines, and provide end-to-end services in fields outside of air passenger claims.
“For example the recently founded subsidiary for labour rights management. GP Bullhound has been an instrumental partner in preparing and executing the transaction.”
Flightright has enforced over €200 million in claim value against airlines and has a court case success rate of 99 per cent.
The deal was advised by GP Bullhound, a technology advisory and investment firm.
Sebastian Markowsky, director at GP Bullhound, said: “It has been a pleasure to advise the managing directors of Flightright, in my opinion the most advanced legal tech platform to date in Germany and Europe.
“We are convinced that the company has found a strong partner in Intermedia, which will facilitate to add further products to the platform to extend the offering far beyond its current scope of business.”
GP Bullhound provides transaction advice and capital to entrepreneurs and founders. The firm has offices globally including London, Manchester, Paris and Hong Kong.
This represents GP Bullhound’s fifth transaction in 2019.