RCI announces agreement to acquire DAE
RCI has reached an agreement with vacation group Beneficium to acquire DAE Global Pty Ltd. (DAE), operator of timeshare exchange company Dial An Exchange and software company @Work International. Both companies are based in Australia. The deal is subject to customary conditions precedent, including receipt of applicable regulatory approval.
DAE’s offices in Australia, New Zealand, US and Egypt will become part of RCI upon completion of the acquisition. The addition of DAE will complement RCI’s existing business, broaden its appeal to a new base of travelers and strengthen its position as a leader within the global alternative holiday accommodation sector.
Dial An Exchange Limited, which operates DAE’s services in Europe, is not included within the scope of this transaction and continues to operate as a licensee of DAE Global and an independent business, while also maintaining its membership of RDO.
As part of the RCI family of brands, DAE will benefit from the core competencies, including inventory management, member marketing and analytics, RCI has developed over the past four decades.
DAE, which has established a strong loyal consumer base, will continue to run as an independent brand and be marketed separately from RCI. However, the similarities among these exchange-oriented businesses will allow for greater collaboration between the companies to foster growth.
The acquisition of DAE will expand RCI’s exchange offerings to reach a new pool of timeshare owners. The addition of @Work International, which develops exchange management and reservation management software programs, will allow RCI to bolster the technology solutions it can offer its Homeowner Association (HOA) and affiliated resort partners.
DAE will continue to be led by co-founder Francis Taylor as managing director while Peter Vanderhorst will continue to serve as managing director and lead @Work.
“This will provide DAE with the resources it needs to fulfill its ultimate potential,” said Taylor. “It’s a great opportunity for the company and its dedicated staff around the world.”