INDUSTRY OUTLOOK
Holisto. | June 15, 2022
On June 13, Holisto Ltd, a leading technology-based online travel booking platform, and Moringa Acquisition Corp, a special purpose acquisition company, announced that they entered a business combination agreement that would get Holisto publicly listed on the Nasdaq. Holisto Ltd’s expected pro forma equity value will be approximately $405 million, thanks to this business combination.
Moringa’s non-redeeming public shareholders can receive a pro-rata portion of a bonus pool of up to an additional 1,725,000 shares at transaction close. This would result in a merger consideration of between 1.15 and 1.6 Holisto ordinary shares for each such Moringa Class A ordinary share not redeemed. However, the ratio of merger consideration for non-redeeming shareholders will depend on the number of Moringa shares redeemed.
“From the outset we were inspired by the opportunity to disrupt the large, fragmented and complex travel booking market, using advanced big data and AI technologies that enable incremental cost savings and simplicity through the ability to combine offerings from multiple sources, Our combination with Moringa and access to public markets will allow Holisto to continue to aggressively leverage our technology by scaling our platform and infrastructure and expand our customer acquisition and brand awareness.”
-Eran Shust, Chief Executive Officer and co-Founder of Holisto.
“We are incredibly excited to announce the merger with Holisto. Holisto is innovating with advanced technology solutions in a large, global market which is ripe for transformation for the benefit of the consumer traveler. We look forward to our partnership and opportunity to leverage our expertise as Holisto continues to rapidly scale its business.”
-Ilan Levin, Chief Executive Officer and Chairman of Moringa
Holisto is a tech-based online travel booking platform. It harnesses the power of advanced AI to make travel more affordable and personalized for customers. Its unique holistic view of hotel rates and plans result from multiple inventory sources, including online travel agencies, wholesalers, global distribution systems, and hotel operators, so that consumers can get the best deals on their bookings.
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TRAVEL TECHNOLOGY
IMG & bolt | July 29, 2022
International Medical Group® (IMG®), an award-winning global insurance benefits and assistance services company, has announced a new partnership with bolt, an international insurtech and leading provider of mobile device protection programs.
IMG now offers Mobile Device Protection as an optional add-on when purchasing a plan within the Patriot Travel series, IMG's market-leading travel medical insurance offerings. The add-on provides coverage for repair or replacement of a traveler's mobile device if it is lost, stolen, or accidentally damaged during their trip.
"We know how indispensable devices like cell phones and tablets have become in nearly every phase of travel: housing boarding passes and tickets, communicating with friends and family, and documenting your travels while abroad,By partnering with bolt to offer Mobile Device Protection, we are taking another step toward our goal of providing products and services that meet nearly every traveler and expatriate need while away from home."
-Amanda Winkle, IMG Chief Commercial Officer.
If a traveler's mobile device is damaged while traveling, such as a broken screen or internal overheating, they can quickly and easily get reconnected to their digital life through an integrated claims process. bolt will help get the device repaired, provide a cash settlement for the replacement cost of the device, or replace the phone.
"This partnership acknowledges the importance of protecting wireless devices when customers need it the most, especially when they may be far away from home and rely on their smartphones to serve as a lifeline," said Clayton Bodnarek, EVP of Alternative Distribution at bolt. "Our work with IMG brings comfort to customers who are traveling, knowing that if there is an emergency and they need the connection a device brings, we'll be there for them."
IMG plans to offer the optional Mobile Device Protection add-on with more of its insurance products in the future. For more information on the industry-leading travel and health safety solutions IMG offers, please visit www.imglobal.com.
About International Medical Group® (IMG®)
International Medical Group® (IMG®), a SiriusPoint company, is an award-winning global insurance benefits and assistance services company that has served millions of members worldwide since its founding in 1990. The preeminent provider of travel and health safety solutions, IMG offers a wide range of insurance programs, including international private medical insurance, travel medical insurance, and travel insurance, as well as enterprise services, including insurance administrative services and 24/7 emergency medical, security, and travel assistance. IMG's world-class services, combined with an extensive product portfolio, provide Global Peace of Mind® for travelers, students, missionaries, marine crews, and other individuals or groups traveling, working, or living away from home. For more information, please visit www.imglobal.com.
About bolt
bolt is the leading insurance exchange for the P&C insurance industry, uniting distributors and providers on a single platform to transform the way insurance is bought and sold. The result is the world's largest exchange working with two-thirds of America's leading carriers, helping more people protect the things they value.
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TRAVEL TECHNOLOGY
CardFree | May 18, 2022
CardFree launches CardFree Concierge, a full suite of solutions from geo-location for poolside ordering to enhanced in-room ordering. The solution is specifically tailored to deliver a superior guest experience while taking the strain off of employees through digital connectivity. CardFree is an all-in-one platform empowering businesses to create customized order, pay, and loyalty solutions.
CardFree has been working with various creative hotels to encourage this new customer experience, both in-room and onsite, with products like charge-to-room, loyalty integration, remote ordering anywhere on-premise with geo-location capabilities, and order and pay at the table solutions. The Concierge has resulted in an ordering increase of over 60 percent for the hotels implemented to date.
CardFree Concierge is more than just an application; it's a customized suite of digital solutions to ensure a consistently high-quality client experience. For example, geo-location ordering enables consumers to place orders from the pool, the lobby, or any other designated area, guaranteeing that a hotel employee can locate the client for delivery. Guests, who like to get room service? CardFree Concierge allows in-room ordering by mobile phone without an app. CardFree Concierge also provides:
Multi-unit menu management.
Loyalty connections.
Catering and event management.
Self-directed kiosks for hotel restaurants and bars.
Pankaj Khanna, VP of Digital Product and Tech at Great Wolf Lodge, said, Through CardFree Concierge, we've been able to address critical food ordering scenarios and introduce innovative guest-friendly options like order-to-room, order ahead, and QR code ordering where guests have the option to either pay through their phone or charge it to their room. We've also seen improvements in our customer and employee satisfaction levels with the integration of self-serve kiosks designed for intuitive ordering
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