French hotel booking and payment solutions company CDS Groupe has acquired Italy-based SIAP, which provides software solutions for travel and tourism. Financial terms of the acquisition have not been disclosed.
CDS Groupe, which works with corporate clients and travel mangement companies (TMCs), said the integration of SIAP will give it a stronger placement in the Italian market where more than 1,000 TMCs use its software. It will also give the company access to enterprise resource planning technologies and insight into local management tactics.
“This milestone acquisition reinforces our leadership position and aligns with our ambition to achieve €1 billion in business travel hotel bookings within the next three years,” said Ziad Minkara, CEO of CDS Groupe. He also said the company intends to make more acquisitions as it targets Northern Europe for growth.
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SIAP’s full team of 90 will join CDS Groupe and continue to operate independently, with no changes to its management structure, bringing CDS Groupe's workforce to more than 450 employees spread across six countries including France, Poland, Germany and Italy.
“Joining CDS Groupe allows us to combine SIAP’s expertise with the Group’s extensive resources and network, creating new opportunities to serve our clients better,” said Antonio Rosa, founder of SIAP. “We are excited about the journey ahead as we contribute to building Europe’s leading business travel solutions platform.”
Last year, the CDS Groupe acquired Germany’s Corporate Rates Club and in 2022, it purchased Belgium-based Rydoo’s travel platform.