In a strategic acquisition, German media company Intermedia has acquired European flight claims enterprise Flightright.
Founded in 2010, Flightright assists air passengers in reclaiming money for delayed or cancelled flights. Intermedia, based in Ludwigshafen, operates as a holding company within the realm of specialist media. According to Philipp Kadelbach, founder of Flightright, the partnership with Intermedia is expected to open new opportunities for expanding their vision to become a leading legal tech platform across various disciplines. He stated, ‘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, a technology advisory and investment firm, played a crucial role in advising and executing this transaction. Sebastian Markowsky, Director at GP Bullhound, remarked, ‘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.’
Flightright has achieved substantial success, enforcing over €200 million in claims against airlines with a court case success rate of 99 per cent. This acquisition is poised to further enhance their capabilities and service offerings in the legal tech industry.
This acquisition signifies a substantial development in the legal tech sector, with both Intermedia and Flightright expected to benefit from the expanded scope and new opportunities arising from this partnership.