Major acquisitions in the hospitality sector for EPSILON NET
These transactions are part of the Group's development policy in dynamic vertical markets
EPSILON NET announced the completion of the agreement for the acquisition of a (majority) stake in three (3) business software companies, specializing in the field of technology systems for the dynamic sector of Tourism.
Specifically, the parent company of the Group acquired
- 70% of the share capital of the English company "Hotel Availabilities Ltd" for the amount of € 98,000, which is active in the development of Channel Manager systems for hotel units and tourist accommodation (https://hotelavailabilities.com),
- 55% of the share capital of the Greek company "BookOnlineNow IKE" against the amount of € 220,000, which is active in the development of on-line booking engine systems for hotels and tourist accommodation (https://bookonlinenow.net/) and,
- 55% of the Cypriot company "HotelonCloud Ltd", a strategic distributor of BookOnlineNow abroad, for the amount of € 180,000.
These transactions are part of the Group's development policy in dynamic vertical markets and the creation of an integrated portfolio of product solutions and services with the goal of fully meeting the needs of the Greek market and gradually developing corresponding solutions abroad. With the addition of the products of the new companies, the Group now has the most complete palette of "all in one solution" for the tourism industry in Greece that includes:
- PMS & ERP for medium and large hotels
- On Cloud PMS for small and medium-sized hotels and tourist accommodation
- On Cloud specialized e-invoicing solutions for small and medium-sized tourist accommodation establishments
- Management Systems for Electronic Booking Channels (Channel Manager)
- On-line booking systems from corporate/commercial websites (Booking Engine)
- Human Resource Management Systems (HRM) for hospitality sector, Payroll and Time Attendance
- Online connection of all the above systems with the Accounting Applications of the Group, automatic connection with the certified electronic invoicing provider “Epsilon Digital”, automatic sending of the issued documents to the electronic platform myData of AADE.