Athena Solutions acquisition strengthens Blastness in hotel tech
Deal News | Jan 13, 2025 | Finance Community IT - 1 Corporate M&A
Blastness, a group specializing in technologies for hotel reservation services, has acquired Athena Solutions, a travel tech company specializing in the hospitality sector, providing dedicated software. This acquisition enhances Blastness' portfolio with strategic technological solutions and prominent hotel structures, solidifying its positioning in the Italian market. Complete business continuity is envisioned for Athena Solutions, with the founders continuing to hold managerial positions within the group. The legal advisor for Blastness was GPD law firm, and the CSSF studio, with partner Prof. Luca Sintoni, conducted the financial and tax due diligence. Athena Solutions, established in 2003, originally served as a Beta Test company for Expedia and developed the first Channel Manager XML in Italy, ErmesHotels, which boasts over 200 certified connections with distribution channels. The company, led by Marco D’Amore, Roberto Romano, and Roberto Santececca, today serves over 600 client structures, including renowned entities like the Grand Hotel Quisisana in Capri, and has expanded the client base alongside Blastness’ 1,200 structures.
Sectors
- Hospitality Technology
- Mergers and Acquisitions
Geography
- Italy – The transaction takes place within the Italian market, affecting companies and clients primarily based in Italy.
Industry
- Hospitality Technology – The article discusses the acquisition of a travel tech company that provides technological solutions for the hospitality sector.
- Mergers and Acquisitions – The central focus of the article is the acquisition of Athena Solutions by Blastness.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blastness | Acquiring Company | Company | A company specializing in providing technologies for hotel reservation services. |
| Athena Solutions | Target Company | Company | A travel tech company specializing in software solutions for hospitality sector structures. |
| GPD Law Firm | Legal Advisor | Company | Provided legal advisory services to Blastness during the acquisition process. |
| CSSF | Financial and Tax Due Diligence Advisor | Company | Conducted the financial and tax due diligence for the acquisition, with Prof. Luca Sintoni as a partner. |
| Marco D’Amore, Roberto Romano, Roberto Santececca | Founders of Athena Solutions | People | Founders of Athena Solutions, who will continue in managerial roles post-acquisition. |