June 14th, 2019 / Insight posted in MKS News

Kingston Smith & Partners sells Quadriga to MIMIR

On 13 June 2019, Ian Robert and Chris Purkiss, joint administrators of Quadriga Holdings Limited and Quadriga Worldwide Limited, sold the business to Quadriga Systems Limited, ultimately owned by Mimir Invest AB, a global investment firm in Sweden that acquires mature and growing companies.

Quadriga is a leading global provider of hotel entertainment software solutions. It serves some 100,000 hotel rooms globally, many of these belonging to the most distinguished international hotel chains. This strategic partnership with MIMIR will develop its software to provide higher performance in customer-facing technology and take the business to another level.

On selling the business out of administration as a going concern, Ian Robert, joint administrator and head of business recovery and insolvency at Kingston Smith & Partners LLP, said: “The sale preserves not only the jobs of many of the highly experienced staff but also the key supplier and customer relationships that have helped build the brand over the years. It is always pleasing to be able to save quality businesses and, in this case, find a partner in MIMIR who is focused on developing the brand and its market position still further.”

Jeff Bork, managing partner of operations at MIMIR said: “We are excited about this strategic acquisition in the software-as-a-service space. Combining MIMIR’s deep technology and investing expertise with the high-quality staff, installed base and technology of Quadriga means there are very few limits for what we can do with this business. MIMIR is the ultimate buyer of the company, bringing experienced hotel entertainment software expertise to Quadriga.”