Okarito Acquisition: Key Details, Impact, and What Comes Next

Swile's acquisition of Okarito marks a significant development in the travel management and employee benefits sectors. By integrating Okarito's robust travel management platform, Swile aims to enhance its all-in-one application for employees, offering a more comprehensive suite of services. This strategic move underscores Swile's commitment to expanding its market presence and diversifying its service offerings.

What Is Okarito?

Okarito, now part of Swile, offers a comprehensive solution for managing professional travel. Its core service is designed to streamline business travel arrangements, providing a seamless experience for companies. While specific unique selling points are not detailed, the emphasis on booking a demo indicates a focus on personalized and tailored travel management solutions. This approach likely sets Okarito apart in the market by catering to the specific needs of each business.

Who Acquired Okarito?

Swile operates in the employee benefits industry, offering digital solutions to manage various perks such as meal vouchers, gift vouchers, business travel, and CSE platforms. Key products include the Swile Card, which consolidates multiple benefits into a single smartcard, and a comprehensive app for seamless management. Positioned as an innovative and client-centric company, Swile enjoys strong customer satisfaction, evidenced by high ratings on App Store, Google Play, and Trustpilot, and a Net Promoter Score of +65.

When Was Okarito Acquired?

Swile acquired Okarito on May 17, 2022. This acquisition came at a time when the travel management industry was experiencing a resurgence post-pandemic, with companies seeking to streamline business travel processes. Okarito's established partnerships and customer base made it an attractive target for Swile, which aimed to expand its all-in-one application for employees. The timing reflects Swile's strategic move to capitalize on the growing demand for integrated travel management solutions.

Why Was Okarito Acquired?

• Market Expansion: The acquisition of Okarito allows Swile to enter the travel management sector, leveraging Okarito's partnerships with 400 airlines and 2 million hotels. This move significantly broadens Swile's market presence, particularly among SMBs, and integrates travel management solutions into its existing portfolio of employee benefits.
• Technology Integration: Swile benefits from Okarito's advanced travel management technology, which includes services like hotel and flight booking, travel policy management, and centralized travel information. Integrating these features into Swile's all-in-one application enhances its technological capabilities, offering a more comprehensive suite of services to its users.
• Competitive Advantage: By acquiring Okarito, Swile strengthens its competitive position in the market. The extensive network and customer base of Okarito, combined with Swile's innovative employee benefits solutions, create a robust, integrated platform. This comprehensive offering makes Swile more attractive to potential clients seeking an all-in-one solution for employee benefits and travel management.

Acquisition Terms

• Acquisition Price: €6,000,000
• Payment Method: Cash
• Key Conditions or Agreements: The acquired organization, Okarito, will be structured as a subsidiary post-acquisition. Other specific terms were not publicly disclosed.

Impact on Okarito

The acquisition of Okarito by Swile has led to notable changes in its operations and management. Okarito is now structured as a subsidiary of Swile, integrating its travel management services into Swile's all-in-one employee application. This shift aims to streamline operations and enhance service delivery by leveraging Swile's established infrastructure. The management team at Okarito has also seen adjustments to align with Swile's strategic goals, ensuring a cohesive approach to expanding their combined service offerings.

In terms of product offerings, Okarito's travel management services are now part of Swile's broader suite, which includes meal vouchers, gift vouchers, and other employee benefits. This integration has expanded the range of services available to Swile's clients, providing a more comprehensive solution for business travel needs. Employee reactions have been generally positive, with many appreciating the enhanced resources and support. Customers have also responded favorably, noting the improved efficiency and convenience of having travel management integrated into their existing employee benefits platform.

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