BID Equity acquires a majority stake in Midoco GmbH
BID Equity has acquired a majority stake in Midoco GmbH based in Hilden/Germany. The three co-founders and Managing Directors of Midoco, Steffen Faradi, Marcus Haarmann, and Jörg Hauschild will remain significant shareholders of the company. The transaction became effective on 6 December 2016.
Since its foundation in 2005, Midoco evolved to Germany’s leading midoffice software for the travel industry. In 2015 alone, transactions worth 7.8 billion Euro were executed through Midoco’s SaaS solution. Main customer segments include business and leisure travel agencies, online travel agencies, virtual tour operators as well as mobile travel service operators. For more information please visit the Midoco website.
The transaction is a prime example of BID Equity’s strategy to invest in and develop successful small-cap businesses with above market growth rates and margins. „BID Equity is a partner with an exceptional competence in optimizing software business models. In the coming years, BID Equity will help us to further accelerate the international expansion, including inorganic Buy & Build options.”, says Steffen Faradi, co-founder and Managing Director of Midoco.