Sonata Software has acquired controlling stake in California-based Rezopia Inc., a cloud-based SaaS travel IT solutions for an undisclosed amount, as per a public disclosure. In a separate transaction, Sonata is also acquiring the businesses of Xyka Software Pvt. Ltd. which is the primary service provider to Rezopia's platform.
The acquisition will see Rezopia benefiting from Sonata's ability to support continued investment in its platform development roadmap and engineering software products, and gain travel customers in multiple geographies globally.
"This is aligned to our strategy of strengthening one of our focus verticals of travel and tourism combined with IP and platform led services. The future of software services lies in blending PaaS models with customised solutions and services over different stages of an enterprise lifecycle. Rezopia will further strengthen our competitive position in the travel vertical," said Srikar Reddy, MD & CEO of Sonata.
"This partnership allows Rezopia and Sonata to pool strengths to emerge as technology providers who can help travel enterprises access solutions that blend innovation, agility and scale to meet their business needs," Rakesh Hegde, founder of Rezopia, added.
Rezopia allows travel companies to gain flexibility, faster time to market and lower TCO in meeting customer needs with its cloud-based SaaS travel IT solutions. While travel firms like those involved in rail, airlines and hotels use the platform both for selling their inventory as well as extending their core services with value added offerings such as special package holiday offers, tour operators use the platform as a core IT backbone for their operations.
BSE-listed Sonata Software is focused on solutions for travel, retail and CPG verticals driven through integrating technologies such as omni-channel commerce, mobility, analytics and cloud.
(Edited by Joby Puthuparampil Johnson)