Horatio Partners advises Shiji Group on its divestiture of StayNTouch to MCR

NEW YORK, Aug. 31, 2020 /PRNewswire/ -- Horatio Partners is serving as exclusive financial advisor to Shiji Group on its divestiture of StayNTouch, a leading provider of hotel property management software.  The deal is expected to close by September 30, 2020.   

"Shiji's leadership, led by Kevin and Nirmal, handled a very difficult situation with the utmost level of class," said Sundeep Chanana of Horatio Partners.  "They were compelled to divest the crown jewel of their U.S. hotel tech stack amid deteriorating geopolitical tensions and a deepening global public health crisis that hit the hospitality sector disproportionately hard.  Throughout it all, Shiji's top priorities remained constant - fully comply with the order and protect StayNTouch customers and employees.  MCR's ambitions in this space make it a perfect fit for StayNTouch, a company with a top shelf management team adept at creating, selling, and supporting mission critical software."

Goodwin Procter LLP is acting as Shiji Group's legal counsel and Kirkland & Ellis LLP is acting as MCR's legal counsel. 

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SOURCE Horatio Partners