• Switzerland-based Beaconsmind Group acquired UAE-based travel tech company Lokalee in a deal valued at USD 12.8 million.
• Lokalee, an AI-driven SaaS platform, offers digital concierge services to hotels, enhancing guest experiences through automation and personalization.
• Founder & CEO Samir Abi Frem emphasized the importance of preparation, scalability, operational readiness, and transparency in securing the acquisition.

Lokalee

What happened?  Switzerland-based Beaconsmind Group acquired UAE-based travel tech company Lokalee in a deal valued at USD 12.8 million. 

Lokalee founder and CEO Samir Abi Frem is an entrepreneur disclosed in an interview with Inc. Arabia the key factors needed for the transition of his enterprise. 

Who are they? Lokalee is a software-as-a-service hospitality platform that provides AI-driven digital concierge services.

Advice

What was his advice?  “Preparation is everything, I cannot stress this enough. Setting up a scalable and sturdy business model with working systems was at the top of our list to make this possible. We implemented robust and transparent reporting systems in order to assure potential investors of our growth trajectory,” said Samir Abi Frem, CEO and Founder of Lokalee. 

Abi Frem added that operational readiness played a crucial role in preparing for the acquisition. Furthermore, Lokalee underwent a thorough review of its operations before the acquisition. He also stressed the importance of clear communication with the counterpart team, which helps minimize misunderstandings and foster harmony between both sides. 

Why does this matter? Abi Frem offered advice to startups aiming for similar success, highlighting the need to focus on scalability, demonstrate clear growth indicators, and build strong relationships with key industry players. He also emphasized that transparency and continuous innovation enhance investor confidence, making companies more attractive for investment.