Posera Acquires Progressive Systems
Wednesday, January 05, 2005 9:08 PM
Posera is pleased to announce the acquisition of Progressive Systems in Seattle, WA. The company has experienced a successful year in 2004 with 2 acquisitions including Seattle and the Glasgow office. These acquisitions will help Posera become a stronger player in the industry, and add complementary products and services to the company to better serve the industry and create a stronger competitive advantage.
With the acquisition of Progressive Systems, Posera wishes to reinforce its presence in the US market and its position as a technology leader. The Seattle office will help to achieve this goal by allowing Posera to offer a larger range of products including the CVM Kitchen Video Monitor, and professional services to its reseller network and to its customers. In perspective, the acquisition will help position Posera as a total solution provider which is a necessity in today’s industry.
The acquisition will also result in additional resources for the company’s Research and Development department. R&D has always been a priority for Posera, and the company intends on benefiting from the synergy that exists between the 2 companies by capitalizing on the R&D department and exploiting knowledge and resources from both offices.
In the past year, Progressive Systems has invested a great amount of time and resources in enhancing the CVM product. Posera will continue the development of this product to launch a new and improved CVM in the first quarter of 2005. The CVM product will be an important gateway to penetrating the QSR market more aggressively and better answering the needs of this growing market.
Michel Côté, VP and General Manager at Posera states: “Everyone at Posera is very excited about the opportunities that this acquisition will unlock for our company. The merge will be a very positive affair for both companies and the added value that will result of it is incontestable.”