Private equity company GrowthCurve Capital has acquired Duetto, a provider of revenue management software for the hospitality sector, from affiliates of Warburg Pincus and other shareholders.
The financial terms of the transaction have not been disclosed.
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Duetto offers solutions that streamline hotel operations and optimise revenue. Its applications are claimed to be used by over 6,000 hotel and casino resort properties across more than 60 countries.
The suite of applications provided by Duetto includes GameChanger for pricing, ScoreBoard for intelligent reporting, and BlockBuster for contracted business optimisation.
Duetto CEO David Woolenberg stated that the acquisition is expected to boost the company’s investments in innovative technology.
The deal is also anticipated to enhance Duetto’s capabilities to support customers and further accelerate expansion.
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By GlobalDataDavid Woolenberg said: “With the strength of the Duetto brand, we are confident that, together with GrowthCurve, we will achieve our ambitious growth objectives and drive the future of hospitality tech.”
GrowthCurve Capital is a private equity company that focuses on building businesses by leveraging data, analytics, and machine learning.
This deal is expected to foster the development of new AI products, support the launch of new business lines, and facilitate expansion into new markets.
GrowthCurve vice president Sim Allan said: “Duetto is uniquely positioned to accelerate the adoption of sophisticated analytics and AI in the hospitality sector, enabling clients to unlock the value of their data for all stakeholders, including enhancing guest experiences.
“We are excited to partner with David and the industry-leading team at Duetto to continue delivering innovative software solutions to the hospitality sector.”
Duetto was assisted by Jefferies as the lead financial adviser, William Blair as an adviser, and Orrick, Herrington & Sutcliffe as legal counsel.
GrowthCurve was advised by Houlihan Lokey as the exclusive financial adviser and Davis Polk & Wardwell as legal counsel.
Earlier in the week, Duetto announced the launch of OpenSpace, a product designed for revenue management and booking of meeting and event spaces.
