https://skift.com/blog/kenyas-hotelonline-backed-by-yanolja-buys-hotel-software-brand-hotelplus/
[From Skift]
HotelOnline, which is based in Kenya and has more than 6,000 hotel clients for its software, has acquired HotelPlus, a provider of hotel software to 2,200 clients in East Africa, the companies said on Monday.
The companies didn’t disclose the terms of the deal, other than to say that the transaction was mainly done in HotelOnline shares in a transaction that placed a $24 million valuation on HotelOnline.
HotelOnline is backed by Yanolja, the South Korea-based travel startup valued recently at more than $1 billion. HotelPlus was a fully bootstrapped company, meaning that it never took outside venture capital. Its co-founder and CEO Eric Muliro has become HotelOnline’s chief technology officer.
“Through this merger, we are significantly increasing our client base, while capitalizing on the combined strengths of both companies, creating a force to reckon with in the hospitality industry in the East Africa region,” said Håvar Bauck, one of the Norwegian co-founders of HotelOnline.
HotelPlus offers on-premise software, which will be brought into the cloud. The digital services of the combined companies help hotels with a broad range of back-office tasks, such as accepting a wide variety of online payments and setting room rates in reaction to changes in supply and demand.
HotelPlus has clients in more than a dozen countries across the continent, which will help speed the growth of HotelOnline, which Bauck co-founded with Endre Opdal in 2014.