Flymya.com, Yangon-based air ticket, hotel reservation and car rental platform owned by local investment firm BOD Tech, has acquired SWITCH.CM, a London-based engineering team that designs reservations platforms for hotel and airlines, for a consideration of $600,000.
The acquisition will help Flymya create a direct API architecture for its hotel partners and deliver real-time price and availability to consumers.
The 100 percent acquisition was finalised this week.
“We were extremely impressed by Jeff’s background as both a hotelier and a software engineer with deep knowledge of hotel API architecture. We look forward to utilising his team’s software to provide an added value to our hotel partners,” said Mike Than Tun Win, CEO of FlyMya.
SWITCH.CM helped execute the Agoda 5.0 XML and uses the Google API to power dynamic pricing/revenue management.
He added that, SWITCH.CM was built with powerful layers of complexity on the backend while being fast enough to run on a 3G connection given that stable electricity & internet speeds are bottlenecks in Myanmar.
The development team of SWITCH.CM will be staying on with FlyMya for the integration.
The market strategy for Myanmar where only one out of 500 people will be using credit card is “to bring an easy-to-use technology & payment solutions on the supply side,” Win told DEALSTREETASIA.
At FlyMya, local tour operators can list their travel packages online without trying to build a website and to date, FlyMya.com has over 100 local operators using the platform.
BOD Tech, which owns FlyMya, also has Star Ticket, a bus ticketing platform, in its portfolio. Other platforms that it has invested in are inmya.com, shopmyar.com, Yangon Door2Door, Laundry.com.mm and Hla Pyo May.
“I was blown away by the operational infrastructure that Mike has built, pioneering the digital revolution in Myanmar by combining technology with a massive network of resellers and on-the-ground staff. I’m excited by the acquisition to see him leverage his expertise in Southeast Asia to grow our technology to its fullest potential.” said Jeff Pan, CEO of SWITCH.CM.