Hotel Internet Services raises $7.5 million, plots acquisitions
Recently,technology provider Hotel Internet Services has secured a $7.5 million investment round and an additional of $125 million for planned acquisitions from private equity firm GPB Capital.
Technology provider Hotel Internet Services has secured a $7.5 million investment round and access to an additional war-chest for acquisitions.
The Florida, US-based company captured the round from private equity firm GPB Capital in a bid to grow its portfolio of services.
HIS provides wifi systems and other mobility services to travel companies, such as hotels and cruise ships.
The company was launched in 2003 by Gary Patrick and Steve Dobe, CEO and chief operating officer respectively.
It has evolved from being an internet services platform to offering wifi technology to customers, with a claim to be fuelling the connections in 150,000 rooms in the US, Mexico and the Caribbean.
Some $125 million is said to be available through additional funding to help with an planned acquisition spree, with “three of four” deals in HIS’s sights.
The company currently has 50 employees.
GPB’s injection is the first outside capital that HIS has taken in its 13-year history.
Read original article