In an announcement, a new $45 million Communications-as-a-Service or CaaS technology company will be formed by VAS Holdings Inc. and Thing5 LLC. The industry’s most complete set of CaaS solutions will be offered by the merged entity. These solutions will be specifically available for the hospitality, travel and financial services industries.

Enterprise level, managed telecommunications and customer service systems with BPO capability will be also provided to these industries. The new company’s solutions are being used at over 4,000 properties. The combined company will therefore hold the top position in the hospitality telecommunications sector.

The CEO of the new company will be David Thor, MD of Thing5. The CEO of VAS Holdings, Robert Camastro, will be the strategic advisor to the new company.

In a release, Thor said, “This is an exciting move for both organizations, and for the hospitality industry. The combined financial strength and leading solution sets result in a provider with tremendous momentum and reliability – and an even greater value and deeper product stack for existing and new customers.”

Thor added that two highly complementary organizations and product families have been combined to provide clear strategic benefits. The company has also created substantial telecommunications, workflow and labor efficiencies for its customers and the industry as a whole.

Camastro said, “This merger advances our strategy to offer best-in-class capabilities. Our clients will benefit from our new, advanced analytics and cloud computing solutions. VAS’ and Thing5’s combined product set creates an end-to-end communications platform for hotels that is unique in the industry.”

Clients will have access to new powerful tools with CloudPak, the combined offerings from the new organization. These tools will allow clients to have unparalleled control over the voice channel. The people and technology components of voice services will be also fully integrated by the VAS-Thing5 services.

Advanced analytics for all customer voice interactions will be accessible through CloudPak. These include central reservations, on-property reservations, front desk and other business lines like restaurants and spas. A professional, sophisticated customer experience with ultimate flexibility for its clients will be offered by CloudPak.

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Carolyn John is a Contributor to TMCnet. To read more of her articles, please columnist page.

Edited by Jennifer Russell