Spain-based operating portfolio company Juniper Group, of Vela Software and Constellation Software, has acquired Vervotech, a tech start-up. The financial details of the transaction have not been disclosed.
The tech startup is known in the travel industry for its products, including hotel mapping and room mapping solutions.
Vervotech Mappings, a flagship product of Vervotech, claims to provide accuracy and consistency in hotel data and this addition enhances Juniper’s booking engine and is claimed to "revolutionise" the hotel industry.
The acquisition will enable Vervotech to improve its products and invest in research and development by leveraging Juniper's resources and industry knowledge.
Vervotech co-founder and CEO Sanjay Ghare said: "Joining forces with Juniper is an incredible opportunity for Vervotech to impact the global travel industry. By combining our expertise with Juniper's industry-leading booking engine, we'll deliver unparalleled value to our customers and partners.
"Leveraging Juniper's network and resources, we aim to establish a strong foothold in Europe, North America and the Middle East, providing cutting-edge solutions to a diverse range of travel companies and enhancing their business performance."
Juniper Group CEO Jaime Sastre said: "Their mapping products and solutions perfectly align with our vision of driving transformation in the travel industry through advanced technology.
"With Vervotech's expertise, we are confident in providing our customers and our travel technology companies with even more comprehensive and reliable mapping solutions, empowering them to thrive in today's competitive landscape."
This deal has been sponsored by a travel industry software partner, Juniper Travel Technology, which operates across more than 50 countries with 400 customers. Vervotech will continue its independent operations through this acquisition.
With the deal, Vervotech will integrate with new tech partners alongside Juniper Travel to cater to more customers across the world.
