VinHMS, a leading Vietnamese hospitality technology company, is expanding its reach globally after being acquired by Vemanti Group. The company plans to bring its innovative solutions to the U.S. hospitality industry, leveraging its proven track record in Southeast Asia. VinHMS offers a comprehensive suite of technology solutions, including its flagship platform, CiHMS, which is already trusted by major hotel brands.
Spain-based TravelPerk has acquired Chicago-based business travel platform AmTrav, marking a significant move into the U.S. market. This acquisition comes at a time of robust growth in the business travel industry, with companies like American Express Global Business Travel (Amex GBT) and American Airlines reporting a surge in travel, especially among global multinationals and small- to medium-sized businesses (SMBs). TravelPerk’s strategic move aligns with the trend of domestic travel and frequent, local trips among corporations and SMBs, respectively. With this acquisition, TravelPerk aims to double its U.S. revenue, building on its impressive 65% year-over-year growth in the American market.
Healthify, a leading health and fitness app, has announced layoffs of 150 employees as part of a restructuring exercise aimed at improving profitability and expanding its presence in the US market. According to Healthify CEO Tushar Vashist, the company’s India business is expected to become EBITDA profitable within the next three to four months, and the restructuring is a necessary step towards achieving this goal. Healthify has offered comprehensive severance packages, extended insurance coverage, and job placement assistance to the affected employees.
JD Sports, a FTSE 100 sportswear retailer, has announced a $1 billion acquisition of Hibbett, a Birmingham, Alabama-based company with over 1,000 stores across 36 states. The deal is expected to significantly expand JD’s presence in the US market, increasing its share of sales from 32% to 40%. Hibbett’s complementary footprint in the southeastern US, a region where JD has a limited presence, will provide a strategic advantage for the rollout of JD’s fascia in the country. The acquisition is expected to enhance JD’s earnings immediately, and has been met with positive reactions from investors, driving up the company’s stock price.
