Tan Capital Partners has acquired the survey technology of market research technology firm Osurv for an undisclosed sum, the companies announced on Friday.
L.A.-based Osurv, which launched in 2012, creates interactive customer surveys for companies such as Casio Computer Co. Ltd. and Caesars Entertainment Corp. Singapore’s Tan Capital plans to use Osurv’s technology to service the 800 hotels it owns and operates across Asia, according to the private equity firm’s Chairman Yeau Tan.
“Hotels continue to evolve as market demands change,” Tan said in a statement. “Osurv is an important turnkey solution for us to ensure that we continue to create heartfelt and memorable experiences for our guests.”
Osurv co-founder Aaron Abram, who served as the company’s senior vice president of sales and marketing, said he and co-founder Jad Meouchy would have loved to sell the full company, but that didn’t pan out.
“We never scaled big enough to get to a point where we could sell the company or get a huge Series A round,” Abram said. “A year and a half ago, we met with investors and they said that if we could double the number of clients we had we could get a nice $5 million to $10 million Series A, but it never materialized.”
Abram said several Osurv employees would help integrate the company’s technology with Tan Capital’s hotel management software, but he noted they would be working as consultants.
While he declined to disclose financial specifics of the deal, Abram said he and his partners “did well.”
“I haven’t gone out and bought a Ferrari,” Abram said, though he noted his co-founder did buy a 2017 BMW i8.
Deals & Dealmakers reporter Henry Meier can be reached at email@example.com. Follow him on Twitter @henry_meier.
For reprint and licensing requests for this article, CLICK HERE.