SynXis and hubX have announced a merger today that will create a dominant force in the reservation technology industry while providing huge benefits for customers of both companies. The deal officially closed on January 6th and will be accretive immediately. The new entity will retain the SynXis name and will continue to serve its customers from multiple locations including.
SynXis was founded in 1996 to develop applications that utilized the Internet. After identifying a need for hoteliers to simplify management of their multiplying distribution channels, SynXis engineers worked closely with industry experts to develop a low-cost, highly functional, Web-based and scalable hotel central reservation system (CRS). The result was the SynXis Reservation Management System, which was the first true Internet-native CRS and made “channel management” (the ability to manage rates, availability and descriptions separately for each distribution channel) an industry standard. SynXis is now the reservation technology for over 4,600 hotels worldwide.
“HubX is the kind of partner we have been looking for,” said Jim Kelly, President and CEO of SynXis. “We were very impressed with how quickly they became a player in the industry and we are looking forward to combining the best of both technologies and increasing our competitive advantage. Both companies’ customers will benefit from the combined technology and resources that will continue to keep us ahead of the curve.”
“We knew it was important for us to find the right company to partner with,” said Mike Murray, Chief Information Officer and Vice President of Product and Technology for the newly merged companies and former president and CEO of hubX. “The combination of SynXis and hubX presents tremendous opportunities in the way of growth for our newly merged companies and for our customers in the way of the best technology in the industry.”
Located in Boston, MA, hubX started in 1998 as an IT consulting company. After completing a project that involved integrating disparate hotel systems, Murray, also the company’s founder, recognized a unique need and opportunity to expand on the central information “information hub” concept. The ability to quickly create system interfaces became hubX’s core technology offering and is what continues to differentiate them in the central reservation industry. HubX has over 1,000 customers and has a license agreement with Cendant for an additional 6,500 hotels to use its technology.