WESTON, FL, Aug 22, 2019 (GLOBE NEWSWIRE) – via NEWMEDIAWIRE – Monaker Group, Inc. (Nasdaq: MKGI), a technology leader in the travel and vacation rental markets, today announced that it has entered into an asset purchase with the leading provider of travel technology, IDS technology to enrich its Monaker booking engine (MBE) and nextvoyage.biz platform, adding new capacity and 500,000 additional properties in North America.
The terms of the deal include Monaker’s purchase of key assets and technologies – from IDS – as well as software development and integration services for a total of $ 5.5 million. The consideration payable to IDS is $ 634,000 in cash and 1,968,000 common shares of Monaker valued at $ 2.50 per share.
âThis technology acquisition and transaction with IDS creates an opportunity to dramatically improve our travel technology platform and accelerate the growth of our transactions,â said Monaker CEO Bill Kerby. âIDS assets will also help us to further strengthen our nextvoyage.biz business travel solution with a wider selection of vacation rentals suitable for business travel, and is expected to generate higher margin revenue streams.
Mr. Kerby noted that IDS primarily accepting limited equity in this transaction and at an above-market valuation, âthis is an indication of their confidence in Monaker’s ability to improve shareholder value and be a true partner. in this enterprise. It also validates the power of Monaker’s existing MBE and nextvoyage.biz platforms and their greatest potential.
Assets and services purchased include:
Â· Development of API software to provide instant booking access to over 500,000 vacation rental properties in North America. This access will further complement Monaker’s existing vacation rental inventory, primarily located in Europe and Asia. Additional Alternative Home Rental (ALR) products, commonly referred to as vacation rentals, will also be added, including wholesale access to exclusive, high-value offers.
Â· Proprietary IDS Booking Engine software technology for airline, car and hotel reservations, including proprietary API connections to travel suppliers and distributors. This will make MBE a more complete B2B solution for simultaneous airline, car and hotel booking, rather than relying on integration with existing customer reservation systems. It will enable MBE and nextvoyage.biz to capture new sources of revenue from aircraft, car and hotel reservations, as well as to expand the target market of Monaker’s B2B customers.
Â· Exclusive access to major vendor contracts, including those for aircraft, car and hotel rentals, which will be accessible through reservation engine technology acquired from IDS.
Â· Agreements are designed to gain access to a specialized, and in some cases unique, inventory for distribution through the company’s booking engine and nexttrip.biz.
A robust, cloud-based Customer Relationship Management (CRM) platform to manage travel customer relationships and enable a more comprehensive service offering.
Â· Access to special merchant accounts that can support between $ 500,000 and $ 1 million per month in merchant processing capacity.
Mr. Kerby added that this significant acquisition and stronger relationship with IDS was a âstrategic extensionâ of the previous engagement with IDS for the development of the Monaker company. nextvoyage.biz platform, which started last year.
Following the improvement of IDS technologies for nexttrip.biz, Monaker plans to launch commercially direct access to the site by subscription. For $ 19 per month or $ 150 per year, travelers around the world will be able to access wholesale pricing for all their travel needs and create trips by air, car, accommodation – including vacation rentals – and tourist packages, for additional savings.
About IDS technology
IDS Technology is a software development company with nearly three decades of experience in the hospitality industry. As a leader in the aggregation and distribution of travel inventories, its Internet distribution systems enable more than 100 leading travel companies around the world to remain competitive in the rapidly evolving travel industry. Its cloud-based travel software solutions help distributors and suppliers increase revenue and increase efficiency through automated mapping technology, API connectivity, and profit optimization tools. Always at the forefront of travel technology development, its solutions work across the entire distribution chain to support travel product suppliers, distributors and meta-research. For more information visit www.ids.technology.
About the Monaker Group
Monaker Group is a technology-driven, innovation-driven travel company in the Alternative Accommodation Rental (ALR) market. The Monaker Booking Engine (MBE) provides access to over 2.6 million instantly bookable homes, villas, chalets, apartments, condos, resort residences and chateaux. MBE offers distributors and travel agencies an industry first: a customizable instant booking platform for alternative accommodation. The company’s contract travel partners include travel aggregators, consolidators, tour operators, airlines and more than 250,000 travel agents. To learn more about the Monaker group, visit www.monakergroup.com.
Nexttrip.biz is a customizable business travel booking and management solution for small and medium businesses. Through a personalized and branded website, business owners and employees can search and securely access exclusive discounted prices for air, hotel / ALR, car and other ancillary travel services. Nexttrip.biz can be configured according to the particular travel policies of an SME, with bookings recorded for easy tracking and reporting of business expenses. For more information visit www.nexttrip.biz.
Important Cautions Regarding Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, beliefs or forecasts of future events and performance. A statement identified by the use of forward-looking words, including “will”, “may”, “expects”, “projects”, “anticipate”, “plan”, “believe”, “estimate”, “should” And certain of the foregoing statements may be deemed to be forward-looking statements. Although Monaker believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to differ materially from those suggested or described in this press release. All forward-looking statements are expressly qualified in their entirety by the “risk factors” and other caveats included in Monaker’s annual, quarterly and special reports, proxy statements and other public documents filed with the Securities and Exchange Commission (âSECâ), including, but not limited to, the company’s annual report on Form 10-K (as amended) for the fiscal year ended February 28, 2019 and quarterly reports filed by following on Form 10-Q, which have been and will be filed with the SEC and are / will be available atwww.sec.gov. Investors are cautioned that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected. The forward-looking statements contained in this press release are made as of the date hereof. The company assumes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the company.