KKR & Co. has agreed to acquire a minority stake in Swedish travel technology firm Etraveli Group, valuing the company at around €2.7 billion (US$3.1 billion), according to sources familiar with the deal.

Etraveli, which is backed by CVC Capital Partners Plc, operates brands such as Gotogate, Mytrip, and Flightnetwork.

The Stockholm-based firm processes airline ticket sales for nearly 50 million customers annually across 75 markets.

It also provides booking services for companies including Booking.com and Radisson Hotel Group.

The transaction is expected to be announced soon, as noted by sources who requested anonymity due to the confidentiality of the information.