VAS Holdings
and Thing5 LLC announced a merger agreement to create a $45 million
Communications-as-a-Service (CaaS) technology provider.
The merged
entity will offer the industry’s most complete set of CaaS solutions for the
hospitality, travel and financial services industries by providing enterprise
level, managed telecommunications and customer service systems with BPO
capability. The combined company will have the #1 position in the hospitality
telecommunications sector, with its solutions used at over 4,000 properties.
David Thor,
managing director of Thing5,
will be chief executive officer of the new company, while Robert
Camastro, chief executive officer of VAS Holdings, will remain as a strategic
advisor.
“This
is an exciting move for both organizations, and for the hospitality industry.
The combined financial strength and leading solution sets result in a provider
with tremendous momentum and reliability – and an even greater value and deeper
product stack for existing and new customers. In addition to the clear
strategic benefits of combining two highly complementary organizations and
product families, we have created substantial telecommunications, workflow and
labor efficiencies for our customers and the industry as a whole,” said
David Thor, managing director, Thing5.
“This
merger advances our strategy to offer best-in-class capabilities. Our clients
will benefit from our new, advanced analytics and cloud computing solutions. ‘VAS’ and Thing5’s combined product set creates an end-to-end communications
platform for hotels that is unique in the industry,” Robert Camastro,
chief executive officer, VAS Holdings.
The new
organization’s combined offerings, known as CloudPak,
will allow clients to have access to new, powerful tools that enable
unparalleled control over the voice channel.
The
VAS-Thing5 services will fully integrate the people and technology components
of voice services. CloudPak will enable access to advanced analytics for all
customer voice interactions including central reservations, on-property
reservations, front desk and other business lines such as restaurants and spas.
CloudPak’s industry leading, turn-key, cloud communication services will offer
a professional, sophisticated customer experience with ultimate flexibility for
its clients.
By
Telecomlead.com Team
editor@telecomlead.com
