Kenyan software developer and founder Eric Muliro inked a multi-million deal that will see him receive a payout as well as shares valued at Ksh228 million (USD1.9 million) in the acquiring firm.
A report by TechCrunch on Monday, September 12, indicated that HotelOnline, which is based in Kenya, acquired HotelPlus that was founded by Muliro.
Established 13 years ago, HotelPlus has grown in leaps and bounds to offer its software services in 22 countries across the globe.
Speaking to the press, HotelOnline co-founder Havar Bauck noted that the acquisition was poised to expand its customer base by 2,200.
Muliro was also hired as HotelOnline's chief technology officer.
“Because the HotelPlus client-base currently uses on-premise software, this creates a unique integration opportunity with our cloud solutions… We are creating a massive win-win situation for the HotelPlus clients, in other words.
“HotelPlus has built an impressive commercial organization, with skilled sales people, a high-performance reseller network covering more than a dozen countries across the continent. Integrating these resources, prepares the ground for our accelerated expansion in Africa,” Bauck told the publication.
HotelPlus is part of the Cadiff Systems Limited founded in 2002 by Muliro who also served as its Lead Developer as well as Chief Programmer.
In 2010, he became the company's Business Development Manager for two years.
In October 2010, he also founded Neptune Capital Partners guided by his innate desire to 'helping grow small businesses with brilliant ideas. Some day I will start this actively.'
In January 2012, he was also named the Director of Johnson Trading Co Ltd - a company that deals in imports, export and general trading mostly in IT equipment and food products. He still holds the position.
He is an alumnus of Starehe Boys Center and obtained his Bachelor 's Degree in Commerce from the University of Nairobi.
