Benefits of a Tuck-in Acquisition: Q&A with HeyHub Founder George Lengyel

Most companies acquired by Volaris Group continue to operate as standalone businesses, but some that join through acquisitions made by companies under the Volaris umbrella choose to integrate their business, products, and employees with the new parent company.

Commonly referred to as a tuck-in, these types of acquisitions can help a larger business add a key offering for their existing customers without developing it from scratch, while providing an up-and-coming company access to a wider market and resources to continue developing innovative solutions for the industry they serve. HeyHub Founder George Lengyel sat down with Acquired Knowledge to discuss his decision to sell to Volaris-owned Kinetic, how the two companies complement each other, and the potential he sees for his team to grow and develop as part of the Volaris family.

George, could you give us a quick overview of how the HeyHub product was founded and its journey to becoming part of Kinetic within the Volaris group?

Certainly. HeyHub, now known as KxEngage, began its journey in 2013 as part of my university dissertation project at The University of Sussex. My goal was to facilitate student connections and cultivate a sense of community. In 2016, I met my co-founder Rohit Makol and we focused on the real estate market, establishing HeyHub as a standalone company. As we gained traction, particularly in universities, we formed partnerships with companies like Kinetic, with whom we already shared customers. This collaboration and shared goals made the acquisition by Kinetic within the Volaris group a natural progression for us.

As the founder of a business, what excites you about being part of the Volaris group?

Being part of the Volaris ecosystem is genuinely exciting. Kinetic brings a vast customer base and excellent brand reputation, which will give our product a larger platform to thrive. On a personal note, having the chance to share insights and best practices within the Volaris network is invaluable for my own learning and growth.

Speaking of employees, how have they responded to the transition to Kinetic within the Volaris group? 

Our team has embraced the transition to Kinetic within the Volaris group. They view it as a unique opportunity to not only contribute to Kinetic's continued success and work on the product they're passionate about, but also to be part of a global organization like Volaris Group. They're also excited about the prospects for career advancement and personal growth within the larger Volaris global network.

How have customers reacted to the new KxEngage app which integrated HeyHub with Kinetic? 

The customer response has been overwhelmingly positive. They appreciate the seamless integration of new technology and the enhanced user experience. We've received feedback indicating strong interest and excitement about the future direction of our products, which is incredibly encouraging. 

How has that integration process been for you?

It's been quite a journey so far, but also incredibly rewarding. I've learned a lot along the way and had the full support of the Kinetic team, which has been invaluable. Our employees are excited about the growth prospects within Volaris, and our customers have been really excited about the new product, which makes all the effort worth it. 

What excites you most now that you are part of Volaris Group? 

Besides connecting with a global network of Software CEOs, I'm excited for my team and the product to thrive within the Volaris eco-system. I'm also keen to introduce future enhancements to the incredible Kinetic product range through our technology, ensuring we continue to enhance the student accommodation experience.