Northstar Travel Group Acquires Ryan Solutions
The deal marks the first acquisition by Northstar since joining Wasserstein Partners' portfolio in June.
Northstar Travel Group has made its first purchase since being acquired by private equity firm Wasserstein Partners in June. The company's software-as-a-service (SaaS) subsidiary, Inntopia, has acquired Ryan Solutions, a provider of customer relationship management (CRM) and database marketing to the hospitality industry.
The deal, terms of which were not disclosed, was characterized by both Inntopia and Ryan Solutions as the logical merging of complementary operations; Inntopia provides e-commerce solutions for clients in the resorts, destinations, and attractions space.
"We have worked closely with Trevor Crist and the whole Inntopia team for several years providing complementary services to our common clients. We are very excited to merge our businesses to create a fast growing, diversified software and services business for our markets," said Ryan Solutions CEO Corey Ryan, who founded the company in 2004 and will join Northstar/Inntopia following the acquisition.
Overall, the deal falls in line with Northstar's strategy of surrounding a given market with as comprehensive a suite of solutions as possible. That approach runs counter to the increasingly fashionable tactic —at least in the B2B space — of narrowing one's focus to a single, dominant channel such as events or data services.
"The acquisition and merger of Ryan Solutions and Inntopia is another important step in the transformation of Northstar into a marketing solutions and technology company serving all key segments of the travel industry," said Northstar CEO Tom Kemp in a statement.