eviivo Limited, a London, UK-based online reservation and property management system (PMS) provider for the independent accommodation sector, has received a £30m investment from Investcorp Technology Partners, the technology private equity arm of the international investment group Investcorp.
As a result of the transaction, Investcorp, which has undertaken a majority buyout of eviivo, will partner with the company’s founders and management to develop further services to further grow the business.
In conjunction with the transaction, Dirk Schmücking and Gilbert Kamieniecky from ITP will join eviivo’s board of directors.
Founded in 2004 and led by Executive Chairman Ian Griffin, eviivo connects small and medium-sized accommodation businesses with online distribution channels. Its software frontdesk® is designed to handle all offline and online bookings in real time.
The company has 80 staff based in Hammersmith, London.
FinSMEs
07/05/2011