ECI Partners portfolio company Fourth, a software-as-a-service (SaaS) provider targeting the hospitality sector, has acquired Adaco, a global supplier of SaaS to the hotel sector.
GP takes a minority stake in the IT service, while the management team remain on board
Existing investors E.Ventures and Heartcore also participate in the funding round
Transaction involves four remaining assets, including Genesys, eDreams and Asia Broadcast Satellite
Existing investors Velocity Capital, Industrifonden and Frumtak also participate