Sequoiasoft lbo with BNPP Développement, BPI

Leading tourism industry software developer Sequoiasoft raises growth capital to acquire Thelis

Sequoiasoft and Thelis have highly complementary business expertise, functional expertise and clienteles, particularly when it comes to the marketing of central reservation systems (CRS) and the operation of property management systems (PMS) for the tourism industry. To keep pace with its clients’ evolving needs, Thelis therefore decided to join a powerful group with annual sales of €18 million and 170 employees post acquisition. With over 2,500 clients in France, Spain, Italy, Holland and Switzerland, Thelis has gained unparalleled expertise in camping facility operation and management solutions and in the marketing and sale of camping spaces on the Internet. In 2015, Thelis managed for its clients 725,000 online bookings worth €450 million.

With offices in Sophia Antipolis, Lyon and Chambéry, Sequoiasoft has over 35 years experience in the development and sale of tailor-made management software for the hotel, catering and wellness sectors. In 2014, the company purchased and successfully integrated the Hotel & Catering division of the management software publisher Cegid. With a staff of 90, Sequoiasoft’s 100% SaaS solutions are used at some 2,000 sites to manage over 35 million overnight stays.

The funding for this acquisition (which consists of equity capital and convertible bonds) was provided mainly by BNP Paribas Développement and France Investissement Tourisme (BPI), who thus join Sequoiasoft’s historical investors, XAnge Siparex and Midi Capital.

This will give Sequoiasoft’s and Thelis’ clients new business development opportunities.