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Gemstone to Acquire Hotel Software Company Orissa.

M2 EQUITYBITES-February 3, 2015-Gemstone to Acquire Hotel Software Company Orissa

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3 February 2015 - Canadian travel management services provider Gemstone Logistics has entered into a binding agreement to purchase all of the issued and outstanding shares in the capital of Canada-based hotel management specialist Orissa Software, the company said.

Terms of the deal were not disclosed.

Orissa manages tens of thousands of rooms for oil, gas, and mining clients, and is a North America specialsist delivering accommodation and guest management solutions to remote workforce accommodation sites.

This transaction, which is due to close on 27 February 2015, is the result of a competitive bidding process, with Orissa attracting investment interest from the US, Australia, and local businesses.

The complementary offerings of both Gemstone and Orissa create a compelling suite of integrated solutions for oil, gas and mining companies tasked with managing complex fly-in-fly-out programs and lodging facilities.

Gemstone plans, coordinates, and manages the movement of workers to remote locations on behalf of major oil and gas companies.

This agreement combines Gemstone's proprietary travel and accommodation management software, CIRYS (formerly GTMS), and Orissa's CampWare and VICTUS web reservation software to offer a travel and accommodation management service for clients.

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Publication:M2 EquityBites (EQB)
Geographic Code:9INDI
Date:Feb 3, 2015
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