Myanmar: Flymya acquires UK travel reservation developer SWITCH.CM for $600K

Photo: Flymya.com.

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.

Also Read:

Myanmar investor BOD Tech bets on online travel, to invest in 3 startups in 2017

Bus booking platform Star Ticket raises $200K series A from Myanmar BOD Tech

Myanmar Dealbook: Yangon Door2Door looks beyond food delivery; AAT Business park to invest $8000 seed fund

Meet the most active venture capital & investment firms in Myanmar

 

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.