Equitas Capital has sold its stake in buuteeq. Buuteeq was acquired by The Priceline Group. Terms of the deal were undisclosed. Buuteeq was founded in Chile and is now headquartered in Seattle and powers web sites for hotels around the world.
Equitas Capital today announced that it sold its stake in buuteeq, Inc. (Buuteeq.com), a company started in Chile, headquartered now in Seattle, which powers the web sites for hotels around the world. Buuteeq was acquired by The Priceline Group (NASDAQ: PCLN). Terms of the deal were undisclosed. Buuteeq will continue to operate as an independent business within The Priceline Group.
Equitas Capital was an investor in Buuteeq during its early days in Chile and later through its international expansion. “We sincerely commend CEO and Founder, Forest Key, and his co-founders, Adam Brownstein and Brian Saab, for a terrific success story. They have managed to do what few entrepreneurs in emerging markets such as Chile accomplish, i.e., create a truly global company with a world-class product in record time resulting in an extraordinary outcome for all stakeholders,” said Cristián Shea, Partner at Equitas Capital. “We are proud to have been a part of this exciting enterprise and sincerely hope that Key, Brownstein and Saab’s examples will inspire many other entrepreneurs in South America looking to build best-of-class companies for global or regional marketplaces.”
Buuteeq employs about 200 people, and is actively looking to recruit new employees for its multiple offices. The company recently moved to larger offices in Seattle’s Lower Queen Anne neighborhood, having also operations in Chile where co-founder Brownstein is based, Palo Alto, Calif. and Amsterdam, The Netherlands.
About Equitas Capital
Equitas Capital invests in middle market, high growth companies in South America that are sustainable, scalable and seek to expand internationally. The firm manages multiple funds that invest primarily in environmental and natural resources-related industries, and select consumer-related services. The firm’s main partners are Cristián Shea and Vicente Pérez. Headquartered in Santiago, Chile, the firm’s team combines years of solid investment experience with its strong network of seasoned entrepreneurs, operations managers, investment professionals and multinational investors. As a result, Equitas Capital’s global strategic relationships and specialized operational knowledge enables the firm to identify, finance and support high growth, international opportunities.