“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.
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.