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Gold Coast-headquartered property booking software company Newbook is changing hands for the second time in three years following an acquisition from Austin, Texas-based Storable, a leader in integrated technology solutions for the self-storage and marine industries.
Founded by former Young Entrepreneur Awards Trailblazer Brad Illich in 2010, Newbook was acquired in April 2021 when Potentia Capital secured a majority stake in the company with Illich and his wife Shaye still retaining a significant share.
A spokesperson has clarified that Storable's acquisition is a total buyout.
"Joining forces with Storable opens an exciting chapter for Newbook, enabling us to leverage their proven success to propel our solutions to new heights," says Newbook CEO Shaun Cornelius, a former eBay senior executive who was appointed to the role in early 2023.
"Together, we are committed to driving technological advancements that deliver real value and elevate the operational efficiencies of our customers and their guests."
The acquisition was finalised on 1 May, with Newbook - formerly branded as 'NewBook' until a change last year - set to operate as a division of Storable with the management team intact. The companies claim all their customers can expect a seamless continuation of all existing services and support.
"We are thrilled to welcome Newbook to the Storable family as we launch our third vertical,” says Storable CEO Chuck Gordon.
"Our experience with self-storage and marine has shown that our all-in-one platform brings significant benefits, not just to operators but to their customers as well. We are excited to extend these advantages to RV park and campground operators, enhancing their ability to provide exceptional service.
"Leveraging the strong foundation Newbook has built in the US, Australia, and other countries, we are fully committed to making substantial, market-leading investments that will continuously enhance customer experiences and drive innovation across the board."
Storable reports the acquisition combines its extensive market presence and robust support network with Newbook’s cutting-edge technology, specifically enhancing offerings to RV park and campground operators.
By integrating Storable’s all-in-one platform, it expects operators will benefit from requiring fewer systems to manage business, thereby boosting operational efficiency and setting new standards in satisfaction.
Newbook currently has more than 50,000 users globally and estimates that more than 250 bookings are processed every minute through its systems.
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