Zucchetti

How One European Company Is Quietly Building Its (Hotel Tech) Empire - Tnooz

Excerpt from Tnooz

A few weeks ago Zucchetti, a company providing software and hardware for the hospitality industry among others, quietly acquired Italy-based rival Simple Booking.

Tnooz reached out to both companies to talk about the acquisition.

Zucchetti, founded in 1978, employs almost 4,000 and claims to have more than 1,000 partners worldwide.

While Italy is a highly fragmented market, due to the relative simplicity of XML technology, hundreds of companies invaded the market over the years, a few big names remain with Zucchetti among them.

It has concentrated its acquisitions, to try to centralize the fragmented market. Angelo Guaragni, manager in charge of the hospitality and retail divisions says:

“Zucchetti’s goal is to become a leader in all IT sectors thanks to the high knowledge of the group’s companies. Specifically, in the Horeca sector we want to become the unique vendor on which hotels, restaurants, pizzerie, bars, fast food restaurants and bakeries will rely. The secret of Zucchetti’s success is the capability to combine its know-how in IT with the specific competences of leading companies in vertical markets.”

Enter Simple Booking, which defines itself as a reservation-booster suite: an all-in-one system created to increase direct bookings and global turnover for hotels. The company has been around for 15 years and claims to have been the first booking engine to accept Bitcoin payments.

With its 3,000 clients and a year-on-year revenue increase of 30%, it is probably the best move Zucchetti could have made in order to improve its technology and know-how. The terms and closing price of the acquisition have not been disclosed, but one source, not connected to either Zucchetti or Simple Booking, claimed the amount of the whole operation was pretty high, along with aclause to keep the current management in the company for an undetermined period of time.

Click here to read complete article



Logos, product and company names mentioned are the property of their respective owners.