Accommodation distribution service HotelRunner has acquired RateFor in a bid to broaden its range of services to properties and online travel agencies.
Terms of the deal to buy two-year old RateFor were not disclosed.
HotelRunner says the acquisition is part of a strategy to provide a "complete tech stack" for hotels.
This will include property management tools, direct booking services, channel management and rate intelligence and comparison via the RateFor platform.
Turkey-based RateFor's team, including founders Mesut Mert and Alican Soysal, will join HotelRunner as part of the acquisition.
HotelRunner says the COVID-19 crisis has presented "enormous challenges" but claims it is continuing with its investment and innovation plans, as well as remaining on track and exceeding its financial targets for 2020.
Founder and managing partner Ali Beklen says: "Our goal is to take both ourselves and the currently stagnant tourism ecosystem one step further through strategic moves.
"The long-term relationships we have with business partners and the industry’s trust in us, play an important role in our growth and we’re committed to creating innovative products and services that increase their revenues with fewer costs and no additional fees."
The company also says it has plans to dip further into the acquisitions when the opportunities arises.
* Check these two clips featuring HotelRunner from The Phocuswright Conference 2019 in Florida. The company's pitch for the Launch competition and its interview in the PhocusWire Studio.