MMGY Global has been acquired by EagleTree Capital, a private equity firm. The travel and tourism agency’s previous owner was Peninsula Capital Partners LLC. The terms of the transaction were not disclosed.
11.10.2023 - 08:51 / breakingtravelnews.com
Hospitality technology solutions providers WorldVue® and Infrateq have announced they have signed an agreement that will mark the entry of WorldVue’s full tech stack into the EMEA region powered by Infrateq.
Nearly 50 years in business, WorldVue (formerly known as World Cinema) has been a trusted provider of video, digital infrastructure, wireless connectivity and professional services to hotels, residential properties and enterprises across the world. A family-owned business headquartered in the United States, WorldVue has offices in the Americas, UK, Netherlands, Mexico City, Dubai, Singapore and Australia.
Michael Vargosko, Managing Director International Operations at WorldVue commented: “This agreement couldn’t have come at a more opportune time. As we close in on managing a million rooms installed globally, the business has been focused on strategic international growth with EMEA as a top priority, which was cemented by the appointment of Julian Daniel as Vice President of Operations EMEA earlier this year. Through our alliance with Infrateq our full offering, including IPTV, ISP and wired and wireless network solutions, will be available in EMEA and we will work closely with the team to ensure smooth and seamless operations with the goal to fully integrate the business.”
Specialized in IT infrastructure project design, deployment and management for the hospitality industry, Infrateq designed solutions are approved by leading vendors and international hotel chains, using decades of industry experience of their team plus a network of over 50 verified local partners. Infrateq has extensive coverage in the EMEA region through its hubs in the UAE, Saudi Arabia, South Africa, Europe and the UK.
“This is a very exciting milestone for the company,” said Gary Carscadden, CEO & Founder of Infrateq. “WorldVue will bring its North American pedigree and unrivalled track record to the EMEA region, which with our well-established presence and experience in hospitality technology provides immense synergies for both our current and prospective clients.”
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“Our strategic alliance with Infrateq will not only further fuel our international growth and presence in the EMEA region but also enable us to gain significant operational efficiencies. After the establishment of our offices in Amsterdam and Dubai, we are currently in the process of finalizing our company formation in Saudi Arabia with plans for other hubs in the region in the near future,” added Vargosko.
MMGY Global has been acquired by EagleTree Capital, a private equity firm. The travel and tourism agency’s previous owner was Peninsula Capital Partners LLC. The terms of the transaction were not disclosed.
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