SWISS sells its Mindpearl subsidiary

15 May 2006

SWISS has sold its Mindpearl call-centre subsidiary to the company’s top management under a management buyout. Mindpearl will continue to provide telephone services for SWISS in all its markets around the world.

Mindpearl AG is a wholly-owned SWISS subsidiary and a global provider of outsourced call centre/service centre solutions. The company currently handles most of SWISS’s telephone bookings around the world at its call centres in Cape Town, Barcelona, Brisbane and New York. As of the end of April, Mindpearl employed 440 people at these four locations.

SWISS today sold its entire Mindpearl shareholding to a management group headed by CEO William Pattison under a management buyout. Pattison has served as Mindpearl’s CEO since the company was founded in 2001. The parties agreed not to divulge the purchase price involved.

The sale will not entail any changes for SWISS customers. Mindpearl will continue to provide the same round-the-clock high-quality services for their telephone inquiries and reservations.