Tabhi acquires Mondee out of Chapter 11 Restructuring and Boosts Liquidity and Capital Structure
Mondee Holdings (MOND) has been acquired by Tabhi and successfully emerged from Chapter 11 restructuring. The acquisition includes substantial asset purchase and recapitalization, with significant debt reduction and additional equity investment. Prasad Gundumogula, Mondee's Co-Founder and Chairman, has assumed the CEO position and now holds a majority equity stake through personal cash investment.
The new ownership structure includes affiliates of TCW Asset Management Company, Morgan Stanley Investment Management (MSIM), and Gundumogula. TCW serves as Administrative Agent on a new credit facility that includes MSIM and Wingspire Capital. The company's debt has been reduced by approximately 50%, strengthening its financial position.
Now operating as Tabhi, the company serves over 65,000 travel experts and organizations, reaching more than 125 million global travelers. The company maintains its focus on travel technology, AI solutions, and privately negotiated airline and hotel content, with operations across four continents.
Mondee Holdings (MOND) è stata acquisita da Tabhi ed è emersa con successo dalla ristrutturazione del Capitolo 11. L'acquisizione include un sostanziale acquisto di attivi e ricapitalizzazione, con una significativa riduzione del debito e un ulteriore investimento azionario. Prasad Gundumogula, co-fondatore e presidente di Mondee, ha assunto la posizione di CEO e ora detiene una partecipazione azionaria di maggioranza attraverso un investimento personale in contante.
La nuova struttura di proprietà include affiliati di TCW Asset Management Company, Morgan Stanley Investment Management (MSIM) e Gundumogula. TCW funge da Agente Amministrativo su una nuova linea di credito che include MSIM e Wingspire Capital. Il debito dell'azienda è stato ridotto di circa il 50%, rafforzando la sua posizione finanziaria.
Ora operando come Tabhi, l'azienda serve oltre 65.000 esperti di viaggio e organizzazioni, raggiungendo più di 125 milioni di viaggiatori globali. L'azienda mantiene il suo focus sulla tecnologia dei viaggi, soluzioni AI e contenuti di compagnie aeree e hotel negoziati privatamente, con operazioni su quattro continenti.
Mondee Holdings (MOND) ha sido adquirida por Tabhi y ha salido con éxito de la reestructuración del Capítulo 11. La adquisición incluye una compra sustancial de activos y recapitalización, con una reducción significativa de la deuda y una inversión adicional en capital. Prasad Gundumogula, cofundador y presidente de Mondee, ha asumido el cargo de CEO y ahora posee una participación mayoritaria a través de una inversión personal en efectivo.
La nueva estructura de propiedad incluye afiliados de TCW Asset Management Company, Morgan Stanley Investment Management (MSIM) y Gundumogula. TCW actúa como Agente Administrativo en una nueva línea de crédito que incluye a MSIM y Wingspire Capital. La deuda de la empresa se ha reducido en aproximadamente un 50%, fortaleciendo su posición financiera.
Ahora operando como Tabhi, la empresa atiende a más de 65,000 expertos en viajes y organizaciones, alcanzando a más de 125 millones de viajeros globales. La empresa mantiene su enfoque en la tecnología de viajes, soluciones de IA y contenido de aerolíneas y hoteles negociado de manera privada, con operaciones en cuatro continentes.
Mondee Holdings (MOND)가 Tabhi에 인수되었으며, 성공적으로 챕터 11 재구성에서 벗어났습니다. 이번 인수에는 상당한 자산 구매와 자본 재조정이 포함되며, 부채가 크게 감소하고 추가적인 자본 투자가 이루어졌습니다. Prasad Gundumogula는 Mondee의 공동 창립자이자 회장으로서 CEO 직책을 맡았으며, 개인 현금 투자를 통해 다수의 지분을 보유하고 있습니다.
새로운 소유 구조에는 TCW Asset Management Company, Morgan Stanley Investment Management (MSIM) 및 Gundumogula의 계열사가 포함됩니다. TCW는 MSIM 및 Wingspire Capital을 포함하는 새로운 신용 시설의 관리 대리인 역할을 합니다. 회사의 부채는 약 50% 감소하여 재무 상태가 강화되었습니다.
현재 Tabhi로 운영되는 이 회사는 65,000명 이상의 여행 전문가와 조직에 서비스를 제공하며, 1억 2,500만 명 이상의 글로벌 여행자에게 도달하고 있습니다. 이 회사는 여행 기술, AI 솔루션 및 개인적으로 협상된 항공사 및 호텔 콘텐츠에 중점을 두고 있으며, 네 개 대륙에서 운영되고 있습니다.
Mondee Holdings (MOND) a été acquise par Tabhi et a réussi à sortir de la restructuration du Chapitre 11. L'acquisition comprend un achat d'actifs substantiel et une recapitalisation, avec une réduction significative de la dette et un investissement supplémentaire en capital. Prasad Gundumogula, co-fondateur et président de Mondee, a pris la position de PDG et détient désormais une participation majoritaire grâce à un investissement personnel en espèces.
La nouvelle structure de propriété comprend des affiliés de TCW Asset Management Company, Morgan Stanley Investment Management (MSIM) et Gundumogula. TCW agit en tant qu'agent administratif d'une nouvelle facilité de crédit qui inclut MSIM et Wingspire Capital. La dette de l'entreprise a été réduite d'environ 50%, renforçant sa position financière.
Maintenant opérant sous le nom de Tabhi, l'entreprise sert plus de 65 000 experts en voyages et organisations, atteignant plus de 125 millions de voyageurs dans le monde. L'entreprise maintient son accent sur la technologie de voyage, les solutions d'IA et le contenu d'aériennes et d'hôtels négocié de manière privée, avec des opérations sur quatre continents.
Mondee Holdings (MOND) wurde von Tabhi übernommen und hat erfolgreich die Umstrukturierung nach Kapitel 11 abgeschlossen. Die Übernahme umfasst den substantiellen Erwerb von Vermögenswerten und eine Rekapitalisierung, mit einer signifikanten Schuldenreduzierung und zusätzlichen Eigenkapitalinvestitionen. Prasad Gundumogula, Mitbegründer und Vorsitzender von Mondee, hat die Position des CEO übernommen und hält nun durch persönliche Barinvestitionen eine Mehrheitsbeteiligung.
Die neue Eigentümerstruktur umfasst Tochtergesellschaften von TCW Asset Management Company, Morgan Stanley Investment Management (MSIM) und Gundumogula. TCW fungiert als Verwaltungsagent für eine neue Kreditfazilität, die MSIM und Wingspire Capital einbezieht. Die Schulden des Unternehmens wurden um etwa 50% gesenkt, was die finanzielle Position stärkt.
Jetzt als Tabhi tätig, bedient das Unternehmen über 65.000 Reiseexperten und Organisationen und erreicht mehr als 125 Millionen globale Reisende. Das Unternehmen konzentriert sich weiterhin auf Reisetechnologie, KI-Lösungen und privat verhandelte Inhalte von Fluggesellschaften und Hotels, mit Aktivitäten auf vier Kontinenten.
- Significant debt reduction of approximately 50%
- New cash equity investment strengthening balance sheet
- Majority stakeholder's personal cash investment shows confidence
- New credit facility from major financial institutions
- Successful exit from Chapter 11 restructuring
- Required Chapter 11 restructuring indicates previous financial distress
- Complete ownership change may lead to integration challenges
- Previous shareholders likely experienced significant losses
Mondee, a leading travel marketplace and artificial intelligence (AI) technology company, has been acquired and recapitalized
AUSTIN, Texas, April 04, 2025 (GLOBE NEWSWIRE) -- Mondee Holdings, Inc. announces its acquisition by Tabhi, and exit from Chapter 11 restructuring. Tabhi acquired substantially all the assets of Mondee Holdings, Inc. and strengthened its balance sheet by investing additional equity, significantly reducing debt and other obligations.
Tabhi ownership includes affiliates of TCW Asset Management Company LLC (“TCW”), Morgan Stanley Investment Management (“MSIM”), and Prasad Gundumogula, the Company’s Co-Founder and Chairman. With a substantial personal cash investment, Mr. Gundumogula now holds a majority equity stake and has stepped in as the company’s CEO. TCW is also the Administrative Agent on a new credit facility that includes MSIM and Wingspire Capital LLC.
"The company is on stronger footing as we cut debt roughly in half, raised new cash equity, and have partnered with leading financial institutions,” said Mr. Gundumogula. “Now operating as Tabhi, the company is in a more stable financial and operational position to continue its prior growth as a leader in travel services and technology."
Mr. Gundumogula continues, "We provide travel technology and privately negotiated airline and hotel content to over 65,000 travel experts and organizations who service over 125 million global travelers. The company was the first to introduce cutting edge AI in travel and we expect to continue to innovate and transform the industry with our AI solutions. With offices spanning four continents, we connect citizens of the world.”
About Mondee:
Established in 2011, Mondee is a leading travel marketplace and artificial intelligence (AI) technology company with its headquarters based in Austin, Texas. The Company operates 21 offices globally across the United States and Canada, Brazil, Mexico, India, and Greece. Mondee is driving change in the leisure and corporate travel sectors through its broad array of innovative solutions. Available both as an app and through the web, the Company’s platform processes over 50 million daily searches and generates a substantial transactional volume annually. Mondee Marketplace includes access to Abhi, one of the most powerful and fully integrated AI travel planning assistants in the market. Mondee’s network and marketplace include approximately 65,000 travel experts, 500+ airlines, and over one million hotels and vacation rentals, 30,000 rental car pickup locations, and 50+ cruise lines. The Company also offers packaged solutions and ancillary offerings that serve its global distribution. For further information, visit: www.mondee.com.
For Further Information, Contact:
Public Relations
pr@mondee.com
FAQ
How much debt reduction did MOND achieve through the Tabhi acquisition?
What is the new ownership structure of MOND after Tabhi's acquisition?
How many clients does MOND serve after the Tabhi acquisition?
Who is providing the new credit facility to MOND after restructuring?
