IPO-bound RateGain acquires Germany based startup to expands software solutions for hoteliers
Myhotelshopprovides hotels with software solutions for direct sales and distribution channels.
- The acquisition will allow
RateGainto expand its offerings and reach out to more customers.
- RateGain filed its DRHP last month for an initial public offering to raise over ₹400 crore through fresh issue.
AdvertisementSoftware-as-a-service (SaaS) solution provider RateGain Travel Technologies, which is all set to go for an initial public offering (IPO) later this year, has acquired Germany-based Myhotelshop.
Myhotelshop, founded in 2012 by Ullrich Kastner, provides hotels with software solutions for direct sales and distribution channels. It offers services like reporting, bid management and campaign intelligence platform. It also provides other travel products that enable online travel agencies (OTAs) and agency clients to reach out to more customers.
The acquisition will allow RateGain to expand its offerings and reach out to more customers.
"The merger will help in addressing a key challenge that the industry is facing in the post-COVID world that is witnessing increased digitization. The need to become digital-first is increasingly becoming chaotic and we aim to make it simpler for hotels to manage their acquisition strategy and enable them to unlock new revenue," Bhanu Chopra, founder at RateGain, said.
Founded in 2004, RateGain too offers travel and hospitality software solutions. The company filed its draft red herring prospectus (DRHP) last month for an initial public offering (IPO). The company is looking to raise ₹400 crore through fresh issue and sell another 2.26 crore equity shares that are currently held by investor Wagner and promoters of the company.
The company plans to use the proceeds from this public issue to repay debts and fund strategic investments, acquisitions and inorganic growth.
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