We have now learned that PriceMatch did not take the $9 million funding round in February this year, despite claims to the contrary.
PriceMatch, when asked about a potential Priceline Group acquisition in March, said it was not willing to sell the company and had in fact raised the sum mentioned in earlier reports.
The reality was that Priceline Group’s deal was one of a number of options on the table, but the France-based revenue management service did not take the investment and chose to sell.
The Priceline Group has bolstered its new industry-facing focus in hospitality with a move to buy hotel revenue management provider PriceMatch.
Multiple sources had disclosed this week to Tnooz that the France-headquartered company will shortly be part of the Priceline Group, becoming another cog in the wheel of the company’s drive to help hoteliers with their technology, marketing and distibution.
The deal was confirmed by the pair this morning.
It is unknown how much PriceMatch has gone for, but the company had previously raised $9 million just three months ago and had captured $1.1 million in November 2013.
CEO and co-founder Arthur Waller had ruled any interest in the company by other parties in March this year, and that it was also not willing to sell.
PriceMatch will now become part of BookingSuite, the division in the Priceline Group created over the course of the past 12 months to complement its already huge consumer-facing business.
It will join the company’s other recent acquisitions, Buuteeq (for marketing and design services) and Hotel Ninjas (reservations and distribution), both of which were bought for undisclosed fees during 2014.
BookingSuite director Rob Ransom:
“We are always looking for new ways to leverage data and technology to help our hotel partners be more successful in an increasingly digitally-driven world.
“With the addition of PriceMatch, BookingSuite partners will be able to access a powerful set of business intelligence tools to help them optimize performance through a platform that’s easy to use and manage.”
PriceMatch had recently been on the acquisition trail itself when it bought fellow revenue management software company PowerYourRoom in December 2014, also for an undisclosed fee.
Read original article