Bengaluru based AxisRooms and Gurugram based Piquor Technologies, which provide technology solutions for the hospitality sector, have entered into a transaction to merge with Accel backed hotel property management software provider Hotelogix to create a full-stack solution for hotels.
The merged entity will be absorbed into Singapore-headquartered Hotelogix Pte, a statement from Hotelogix on Tuesday said.
The deal is a no-cash stock swap acquisition, a company spokesperson told TechCircle, adding that all of AxisRoom and Piquor’s investors have been retained, post-deal.
The leadership team and employees of AxisRoom and Piquor will be retained, with the two’s co-founders taking on roles within Hotelogix. While Hotelogix has 115 employees, AxisRoom has 75, and Piquor has 25, the spokesperson added.
The merger will give Hotelogix Pte an aggregate customer base spanning over 100 countries, over 10,000 hospitality businesses, and a total workforce of over 200 employees, the statement said.
Hotelogix aims to expand to over 20,000 customers in the coming three years, across the Asia Pacific region, the statement added.
The full stack solution for hotels, Hotelogix said, would help hotels automate and manage end-to-end operations, operations, distribution, reputation, marketing automation, and guest-facing technologies.
"With this merger, we will have a wide range of solutions to offer which will give superior value to our customers and increase our share of wallet. This definitely gives us a huge competitive edge against our competitors at a global level,” Hotelogix CEO Aditya Sanghi said.
Founded in 2011, Bengaluru-based AxisRooms is a distribution management system, offering all-round distribution solutions to hotels to increase their occupancy rate. Its products include online hotel reservation software (hotel booking engine), hotel online distribution system (hotel channel manager) and private distribution solutions.
AxisRoom’s investors are Seedfund and 72 Degrees, as per VCCEdge data.
Gurugram based Piquor Technologies, founded in 2012, provides a solution called RepUp that helps hoteliers in online review data. It provides reports on big review data to help make insightful business decisions. It helps hotels to increase bookings by improving the online reputation of their websites or brands. RepUp’s platform integrates with over 50 PMS and other hospitality technologies, as per the statement.
Piqour’s investors include Indian Angel Network, Singapore Angel Network, Advantedge, Astarc Ventures, Artha Venture, and 100X.VC’s Sanjay Mehta, among others, as per VCCEdge data.
“We are excited about the transaction and believe RepUp IP on customer experience management is very valuable in the hospitality industry. We are hopeful on the growth the new platform provides with cross sell and up sell opportunities,” 100X.VC founder partner Sanjay Mehta told TechCircle. Mehta had invested in RepUp’s parent entity in 2015.
Hotelogix was founded in 2008 by Sanghi and Prabhash Bhatnagar. Hotelogix claims to also assist hotels in driving growth, increasing revenue and enhancing their online reputation, apart from its PMS service. Operating in over 200 countries, including markets of South East Asia, South Asia and the Americas, it is headquartered in Singapore, with subsidiaries in India and the United States.
In the years ranging from 2011 to 2017, it has raised several rounds of financing from investors Innoven Capital India, Accel India, Vertex Ventures, Saama Capital, Blume Ventures, and Mumbai Angels, among others.
JV Advisors managing partner Jagadeesan Kumar acted as the financial advisor for the three companies on the merger.