South Korea’s Yanolja Cloud buys InnSoft US hospitality solutions for $8.3M

Yanolja Cloud, an AI-based global SaaS (Software-as-a-service) company based in South Korea, has bought InSoft, an American hospitality solutions firm. With the acquisition, it is planning to set up the best solution programs for its targeted North American market.

The tech affiliate of accommodations, leisure, F&B, and residences booking platform, Yanolja, revealed late last week it has already finalized the deal to acquire Innsoft for $8.3 million. The company is now aiming to broaden its hospitality solutions services in North America.

According to Yonhap News Agency, using Innsoft’s existing facilities, network and proficiency, Yanolja Cloud will launch a new line of hospitality management solutions in addition to self-check-in kiosks this year in the said region.

Innsoft is a well-known hospitality solution provider in the United States, and its offerings include various hotel/motel management software and hospitality products. Some of its clients are leading global reservation platforms such as Expedia Group and Booking.Com International B.V.

Moreover, The Korea Economic Daily mentioned that the company has been providing hospitality-specific solutions like property management systems (PMS), web-based reservation systems, and channel management systems (CMS) for more than three decades already; thus, its expertise in the field would be very beneficial to Yanolja Cloud which is planning to release a new product with Innsoft after establishing a base for expansion in North America.

The financial terms of the acquisition deal between Yanolja Cloud and Innsoft were not disclosed. The Korean SaaS company will offer a smooth digital user experience to all of Innsoft’s customers to step up the adoption of SaaS-based hospitality solutions that make system deployment, upgrades, and maintenance simple.

Finally, for its new self-check-in kiosk, Yanolja Cloud is planning to set this up in hotels located close to highways. These kiosks will also be in business hotels with no fixed visiting hours. This will make the check-in and check-out process fast and easy for customers while also improving the operational orderliness and productivity of the front desk staff.