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Category: General

Midoco acquires majority stake in Umbrella

Hilden/Wetzikon, 27 September 2018Midoco, leading provider of mid-office/ERP systems for travel distribution in Germany, acquires a majority share of Umbrella AG, Switzerland. With the acquisition, Midoco secures a position as key player in the mid-office services for the travel industry in Switzerland. In addition, the second product line of Umbrella, Umbrella Faces, is of high strategic interest for Midoco. With the help of Umbrella Faces, profile data of travellers can be synchronised across several GDS and other systems.

Umbrella AG will remain an independent company. Founder and CEO Martin Bachmann retires, but will be available to the company in an advisory capacity and will stay involved in a number of key projects. Helmut Pilz, Remo Räber and Wolfgang Schuller remain shareholders. Steffen Faradi, managing partner of Midoco, becomes chairman of the Umbrella AG board of directors. Faradi will also temporarily lead the operative business of Umbrella AG.

Martin Bachmann comments on Midoco’s entry as follows: “With Midoco I am glad to have found the right and strong partner for the further expansion of Umbrella. The teams fit very well and will push ahead with further internationalisation.”

“Umbrella AG has an excellent, innovative team that fits perfectly to Midoco. Martin Bachmann has done an impressive job with his company,” says Midoco CEO Steffen Faradi. He emphasises the strategic importance of the majority stake: “Midoco and Umbrella Faces complement each other perfectly in a way that enables us to improve our services for international business travel customers.”

Umbrella Faces synchronises traveller profile data across multiple systems. The software automates the synchronisation of profile data and helps customers to eliminate time-consuming and error-prone manual work in a world of fragmented travel distribution systems.

Umbrella Faces is already being used internationally by numerous companies in the business travel sector. These include CTM, Uniglobe, GlobalStar, Clarity, Focus Advantage Partnership and ATG as well as a number of Midoco customers such as Lufthansa City Center travel agencies and Columbus.

Faces synchronises profile data with partner companies including GDS operators Amadeus, Sabre and Travelport, as well as various online booking engines (OBE) in the business travel sector, such as Cytric, Atlatos, Concur, Atriis and Farelogix. Umbrella Faces thus also maintains traveller profiles in the growing world of direct sales of travel services.

UMBRELLA FACES: GROWTH AND GREAT NEW CLIENTS IN THE UK, US, GERMANY AND NETHERLANDS

Umbrella Faces is growing quickly and steadily! Since the beginning of 2017, the number of profiles in our database has grown by an average of three per cent each week. By the end of the year, almost 1.5 million traveller profiles will be managed with Umbrella Faces.

We expect additional momentum thanks to a number of new customers who have chosen Umbrella Faces in recent weeks. We thank them for their trust and look very forward to working with the following well-known companies:

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ARTIFICIAL INTELLIGENCE – AND HERE WE GO!

“The global demand for motor vehicles will not exceed one million – simply because of the lack of available chauffeurs.” (Gottfried Daimler, 1901)

“The internet is just a toy for computer freaks; we see no future in it.” (Ron Sommer, former CEO of German Telecom, early 1990s)

“The horse is here to stay, but the automobile is only a novelty – a fad.”
(President of Michigan Savings Bank, 1903)

“Everything that can be invented has been invented.”
(Charles Duell, Commissioner of the United States Patent and Trademark Office, 1899)

“640K ought to be enough for everyone.” (Bill Gates, 1981)

As you can see, even insiders often have a hard time predicting the effects of technical revolutions.

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A COMPANY ON IT’S WAY UP

Martin Bachmann is an “old hand” in the travel trade. He has owned several travel agencies, successfully sold them, and with these experiences established a successful travel tech company.

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TESLA, UBER & CO…AND WHAT ARE TRAVEL AGENCIES UP TO?

The advent of driverless cars and Tesla have caused the established automobile industry to have an existential crisis. Uber needed only a few months to turn a 115-year-old industry completely upside down. Today, changes across entire industries happen very quickly and radically.

Martin Bachmann is an “old hand” in the travel trade. He has owned several travel agencies, successfully sold them, and with these experiences established a successful travel tech company.

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EXCITING TIMES FOR KUONI!

Annette Kreczy knows the travel industry inside out. Before moving to Switzerland, she spent several years at Amadeus in France, Lufthansa City Center, and as manager in charge of corporate strategy at Lufthansa Systems in Germany.

Annette’s outstanding talents and interest in deep strategic thinking become immediately clear in any discussion about the current state and future development of the travel distribution business.

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FANTASTIC NEWS FROM AUSTRIA!

Umbrella Faces – the success story continues! Splendid news from Austria reach us just in time for the kickoff of Euro 2016!

Verkehrsbüro-Group, Austria’s largest travel agency organisation, will use Umbrella Faces as their profile management tool.

We are totally happy to welcome ÖVB/AX Travel to our “Faces-Family”. And we certainly will keep our fingers crossed for Gerhard Aigner and his team that they will enjoy plenty of successes at the upcoming Euro.

WELCOME TO OUR BLOG!

We are excited to introduce our new blog. We will share customer stories and interviews with interesting people on things like profile management, open booking or the automatic travel agency.

Umbrella Organisation AG
Binzstrasse 33
CH - 8620 Wetzikon

Phone: +41 44 933 53 90
E-Mail: info@umbrella.ch