Wednesday, April 30, 2014

Lanyon Buys Passkey

Irving, Texas-based Lanyon, a developer of cloud-based software focused on meetings, events, and travel, said it has acquired Passkey, a developer of group reservation technology and software. Financial terms of the buy were not disclosed. Lanyon said the deal will help it offer a comprehensive suite of cloud-based software for the meetings, event, travel, and group reservations market. Lanyon, led by David Bonnette, helps automate the process of booking corporate and group travel. The company said that Passkey's technology is used for group reservations and optimization, and is heavily used by Hyatt Hotels and others. Passkey was advised by Pacific Crest Securities in the deal.