At the end of 2018, Cultuzz and CultSwitch officially informed all users of the CultSwitch channel manager about the founding of CultSwitch GmbH. CultSwitch is a wholly-owned subsidiary of Cultuzz Digital Media GmbH and takes over the complete Channel Management line of business from Cultuzz.
CultSwitch was established as a spin-off pursuant to § 123 UmwG (Umwandlungsgesetz, Transformation Act) from the parent company Cultuzz. The commercial register entry (District Court Charlottenburg HRB 201545) was made in November 2018. The business purpose of the company is “the online distribution of accommodation offers, in particular the real-time synchronisation of typical hotel data (Channel Management).” The managing director of the new company is Dr. Reinhard Vogel.
In a spin-off (as in a split-off), part of the assets of a company are transferred to one or more other companies. In contrast to a split-off, however, the new shares are not transferred to the shareholders of the transferring legal entity but remain with the transferring company, so that a parent/subsidiary relationship typically arises.
In the months following the CultSwitch spin-off, all necessary technical and organizational measures were taken to ensure the new company’s operational independence.
Nothing will change for CultSwitch clients in the short term, but a great deal in the medium term: “As a result of the spin-off of CultSwitch, Cultuzz only has a pure holding function and can concentrate on managing the company as a whole,” explains Dr. Reinhard Vogel. “The individual business units can be developed independently of each other, which increases our efficiency and directly benefits our customers.”