WebHotelier and primalRES announced the achievement of a strategic equity partnership with the investment fund SouthBridge Europe Mezzanine II SICAR.
WebHotelier, a leading provider of complete solutions for hoteliers, equips more than 8,000 partner accommodations in Greece, Cyprus and 50 other countries with a range of innovative tools and automation to increase online bookings, maximize sales and profitability .
PrimalRES is the heart of the electronic distribution network for more than 5,000 tourist accommodation, offering sophisticated and at the same time easy-to-use channel management functions for the most efficient management of their online sales and the most effective implementation of their strategy through a central platform, combining technology with providing a high level of support and advice.
SouthBridge Europe Mezzanine II SICAR is an investment fund supported by the European Investment Fund (EIF), the European Bank for Reconstruction and Development (EBRD) and the Hellenic Development Bank (EBA).
SouthBridge’s investment in WebHotelier and primalRES aims to create an integrated and innovative ecosystem of technological solutions for the global tourism industry through the further development of existing applications as well as the integration of new, but also the adoption of an innovative and innovative to provide support services for cooperating tourist accommodation.
After 20 years of uninterrupted presence in the field of tourism software, the co-founder of WebHotelier and one of the pioneers in the industry, Mr. Victor Matsas, leaves the company, transferring his shares, and takes on the role of special advisor to SouthBridge for future investments in wider area of tourism worldwide.
SouthBridge Legal Advisor for the transaction was Koutalidis Law Firm.
Source: Capital
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