Hospitality Services (Austria), a wholly owned subsidiary of Swisscom (Switzerland), has signed an asset purchase agreement with Deuromedia Technologies, by which it will take over all operations, including the existing contracts with its partners, customers, suppliers and employees and its Romanian subsidiary Deuromedia SRL.
This deal will strengthen the global position of Swisscom’s Hospitality division in Asia, Europe and the US thanks to its strong client portfolio. The closure of the deal is pending approval by the respective competition authorities.
Deuromedia is a global provider of IP-based infotainment solutions for the hospitality market. Through its network of regional partners covering Europe, North America, Asia Pacific and the Middle East, the company currently provides its services to many of the finest hotel brands. Clients include Mandarin Oriental, Four Seasons, Lindner Hotels & Resorts and a whole host of other prestigious properties.
"Deuromedia has built up a remarkable client base of hotels with its high-quality IPTV offering, and through its network of partners," says Leo Brand, CEO of Swisscom Hospitality Services. "We are looking forward to introducing these products into our managed services portfolio to propose a broader suite of solutions to address the needs of all segments of the hotel industry. These products join Swisscom’s already award-winning range of TV solutions, and will be seamlessly integrated with our full product set, including high speed internet access, content, room controls and mobility."
Following the completion of the transaction, Swisscom will merge Deuromedia’s operations with its own and will fulfil the existing contractual obligations.
"I’m very pleased to see Deuromedia joining the Swisscom Group. This move will allow Deuromedia’s hotel customers and partners to benefit from Swisscom’s broad expertise in the hospitality industry and financial strength," says Markus Hiebeler, CEO of Deuromedia.