Sheffield-based hospitality tech firm, Airship, has been acquired for an undisclosed sum.
The company, which has revenues in excess of £2.4m, was founded by Dan Brookman, a former pub landlord and IT specialist Rob Marcer.
Brookman will stay on as CEO, working out of its Sheffield office with its current management team.
“This is a fantastic opportunity for the next stage of our growth. This new partnership with Zonal gives us a springboard in the UK and US and I’m really excited to see what we can achieve together,” said Brookman.
“Between our products and our collective integrations, we have some great tech and are committed to put our customers’ customer at the centre of that. We want to really push technology to help operators drive revenue growth. The flow of customer data is richer than ever, and the possibilities for personalisation, automation and revenue recognition will revolutionise hospitality marketing.”
The acquisition means the exit for NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund (NPIF).
The organisation first invested £500k in Airship in 2019 and said the deal was a “considerable return on investment.”
“Since the initial investment in 2019 Mercia has provided support and guidance to help us maintain our trajectory,” continued Brookman.
“We could have been very easy to write off at the start of the pandemic, being so focused in hospitality, but Mercia recognized that we could thrive and continued to provide support.”
Since the start of the first lockdown Airship has grown annual recurring revenue by 300% to over £2.4m and increased staff numbers by 25 to over 40.
“Over the last three years Zonal and Airship have enjoyed a very successful partnership and we are all very excited to welcome Dan and the team to the Zonal family,” added Stuart McLean, Zonal’s CEO.
“This move will further integrate our products and represents a huge opportunity for our customers, who will benefit from the data-driven, business-building, and revenue-driving benefits that this integration will bring.”
Airship’s products are used by brands including Leon, Turtle Bay and Hydes Brewery.
