BID Equity portfolio firm Midoco acquires Umbrella U+O AG, the market leader for Midoffice travel software in Switzerland
Midoco GmbH, a BID Equity portfolio firm and leading provider of Midoffice software solutions for the travel industry, has acquired a majority stake in Umbrella U+O AG, Wetzikon, Switzerland.
Midoco, which was acquired jointly by BID Equity and its financial partner Afinum in 2016, has significantly expanded its presence in the DACH region with the acquisition of Umbrella.
With this acquisition, Midoco not only opens itself up to a broader market and diverse potential synergies, yet further gains access to another Midoffice product that caters to corporate clients in the French-speaking world.
Midoco’s investment confirms Umbrella’s position as the leading provider of Midoffice software in a rapidly growing market. Midoco will assist the Umbrella Management Team in the overall expansion and further professionalization of the company as a whole.
Umbrella U+O AG, is the leading developer and supplier of Midoffice travel booking software in Switzerland. The company’s Software as a Service solution “umbrella.net” offers a variety of analysing and managing bookings functions for travel agents and business customers. The proprietary product “Faces”, a user-driven data management system, further enhances its customers efficiency and experience in the management of bookings for business customers, by monitoring and administrating their employees travel activities.