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Siegel Sez


September 16, 2016
 

MERGERS and ACQUISITIONS


- BirchStreet Systems Acquires AccuBar
- Seekda Acquires Regatta Travel Solutions
- MGM Resorts International Closes Acquisition of Additional Stake in MGM China Holdings Limited
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BirchStreet Systems Acquires AccuBar
BirchStreet Systems, a cloud-based procure-to-pay technology provider for the hospitality industry, announced its acquisition of AccuBar, a cloud-based, mobile-enabled beverage inventory software solution provider. AccuBar’s customers will now have access to an end-to-end solution from inventory to automatic ordering and replenishment. The patented AccuBar beverage inventory, digital menus and bar code scanning technology will add a new breadth and depth of functionality to BirchStreet’s procure-to-pay (P2P) platform. Like BirchStreet, AccuBar has more than 15 years of experience serving the hospitality, restaurant, casino and club industries.
http://www.birchstreet.net
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Seekda Acquires Regatta Travel Solutions
Regatta Travel Solutions announced that it has been acquired by Seekda. Terms of the deal were undisclosed. Together, the two companies will focus on increasing direct booking volume for hotels through optimized meta-search and a powerful hotel booking engine.  Seekda will also expand on Regatta’s work with Destination Marketing Organizations (DMOs). Ashwin Kamlani, the founder and CEO of Regatta Travel Solutions, has been appointed president of Seekda. His team will be expanding their offices in Charlottesville, Va., over the next few weeks as they prepare to lead Seekda’s North America Division. Founded in Austria in 2007, Seekda offers meta-search connectivity to thousands of hotels in Europe and a smart bidding platform that algorithmically optimizes the hotel’s budget across meta-search channels.
http://www.regattatravelsolutions.com
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MGM Resorts International Closes Acquisition of Additional Stake in MGM China Holdings Limited
MGM Resorts International announced that it has closed on its previously announced acquisition of 188,100,000 ordinary shares of its subsidiary MGM China Holdings Limited, from Grand Paradise Macau, an entity controlled by Pansy Ho. As a result of the transaction, the Company owns approximately 56 percent of MGM China's outstanding common shares and Ho owns approximately 22.5 percent.
http://www.mgmresorts.com
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