Sonata Software strengthens travel vertical with acquisition of stake in travel SAAS Rezopia

BANGALORE, India - Sonata Software, a global IT services company with a strong footprint in the travel industry segment announced acquisition of a strategic controlling stake in Rezopia Inc., the first cloud based end-to-end reservations, contracts, operations and distribution management systems platform for travel providers, headquartered in California, USA. The acquisition is aimed at enabling both companies to leverage mutual strengths and opportunities in serving emerging IT solution needs in the global travel industry. In a separate transaction, Sonata Software will also acquire the businesses of Xyka India Pvt. Ltd. which is the primary service provider to Rezopia's platform.

Rezopia has pioneered the development of a cloud based SAAS travel IT solutions platform, allowing large and small travel companies to gain flexibility, faster time to market and lower TCO in meeting customer needs with the latest technology innovations. Travel suppliers like rail, airlines and hotels can use the platform both for selling their inventory and extending their core services with value added offerings such as special package holiday offers. Destination specialists and smaller emerging tour operators can use the platform as a core IT backbone for their operations with benefits of low fixed costs, a dynamic technology roadmap and responsive service. These features have seen Rezopia win recognition in the industry such as the World Travel Awards 2013 and the Travel Weekly Magellan Awards 2013 Gold Award. The acquisition will see Rezopia benefiting from Sonata's ability to support continued investment in its platform development roadmap, the expertise that Sonata has in engineering software products for some of the world's largest ISVs and also the footprint Sonata has with travel customers in multiple geographies globally.

Sonata Software is focused on innovative solutions for travel, retail and CPG verticals driven through integrating technologies such as omni-channel commerce, mobility, analytics and cloud. The company counts in its client roster some of the largest global players in the tour operator, corporate travel, online travel and airline industries. This acquisition will enable Sonata to stay ahead of the curve in offering its customers the flexibility and innovation that a combination of next-gen platform based IT offerings and mainstream IT services can bring, to meet the fast changing needs of their business.

Mr. Srikar Reddy, MD & CEO of Sonata commented, "This is aligned to our strategy of strengthening one of our focus verticals of travel and tourism combined with IP and platform led services. We believe the future of software services lies in blending PAAS models with customized solutions and services over different stages of an enterprise lifecycle and across different business segments within the enterprise. We believe the Rezopia platform combined with the strong management team and travel domain specialist will further strengthen our competitive position in the travel vertical."
BANGALORE, India - Sonata Software, a global IT services company with a strong footprint in the travel industry segment announced acquisition of a strategic controlling stake in Rezopia Inc., the first cloud based end-to-end reservations, contracts, operations and distribution management systems platform for travel providers, headquartered in California, USA. The acquisition is aimed at enabling both companies to leverage mutual strengths and opportunities in serving emerging IT solution needs in the global travel industry. In a separate transaction, Sonata Software will also acquire the businesses of Xyka India Pvt. Ltd. which is the primary service provider to Rezopia's platform.

Rezopia has pioneered the development of a cloud based SAAS travel IT solutions platform, allowing large and small travel companies to gain flexibility, faster time to market and lower TCO in meeting customer needs with the latest technology innovations. Travel suppliers like rail, airlines and hotels can use the platform both for selling their inventory and extending their core services with value added offerings such as special package holiday offers. Destination specialists and smaller emerging tour operators can use the platform as a core IT backbone for their operations with benefits of low fixed costs, a dynamic technology roadmap and responsive service. These features have seen Rezopia win recognition in the industry such as the World Travel Awards 2013 and the Travel Weekly Magellan Awards 2013 Gold Award. The acquisition will see Rezopia benefiting from Sonata's ability to support continued investment in its platform development roadmap, the expertise that Sonata has in engineering software products for some of the world's largest ISVs and also the footprint Sonata has with travel customers in multiple geographies globally.

Sonata Software is focused on innovative solutions for travel, retail and CPG verticals driven through integrating technologies such as omni-channel commerce, mobility, analytics and cloud. The company counts in its client roster some of the largest global players in the tour operator, corporate travel, online travel and airline industries. This acquisition will enable Sonata to stay ahead of the curve in offering its customers the flexibility and innovation that a combination of next-gen platform based IT offerings and mainstream IT services can bring, to meet the fast changing needs of their business.

Mr. Srikar Reddy, MD & CEO of Sonata commented, "This is aligned to our strategy of strengthening one of our focus verticals of travel and tourism combined with IP and platform led services. We believe the future of software services lies in blending PAAS models with customized solutions and services over different stages of an enterprise lifecycle and across different business segments within the enterprise. We believe the Rezopia platform combined with the strong management team and travel domain specialist will further strengthen our competitive position in the travel vertical."

Speaking on the occasion of announcement of the agreement, Mr. Rakesh Hegde, Founder of Rezopia, said, "The travel industry is a very dynamic and competitive industry where technology plays a key role in enabling businesses to succeed with customers. This partnership allows Rezopia and Sonata to pool strengths to emerge as technology providers who can help travel enterprises access solutions that blend innovation, agility and scale to meet their business needs."
Speaking on the occasion of announcement of the agreement, Mr. Rakesh Hegde, Founder of Rezopia, said, "The travel industry is a very dynamic and competitive industry where technology plays a key role in enabling businesses to succeed with customers. This partnership allows Rezopia and Sonata to pool strengths to emerge as technology providers who can help travel enterprises access solutions that blend innovation, agility and scale to meet their business needs."

sourced:traveldailynews.asia