Posera Software and Squirrel Systems Announce Intent to Merge
Wednesday, January 31, 2007 8:18 PM
Leading hospitality point of sale providers Posera Software Inc. and Squirrel Systems announced today that they have entered into strategic discussions to merge both privately held companies.
The proposed merger between Squirrel and Posera highlights the natural synergies between both companies—including a similar target market, business model, and customer service philosophy—and will enable a broader and improved range of specialized products, solutions and services for the North American and international QSR and TSR markets.
Michel Côté, Vice President and General Manager at Posera commented: “This merger underscores both companies’ dedication to the hospitality industry. By combining our respective experience, expertise and strengths, the new Company will be in a better position to serve this industry, while providing our customers and channel partners with a stronger product offering and unequalled customer service.”
Other benefits anticipated as a result of this merger include an enhanced distribution channel that combines Posera’s strength in the international market place with Squirrel’s strength in North America, 24/7 help desk customer support for the companies’ combined customer base, access to a larger pool of R&D and other dedicated resources, and solid financial backing that will support growth opportunities for the new merged company.
Charles Young, Squirrel’s interim President commented: “We are excited about the prospect of working with Posera. We believe that this merger will create more opportunities for success with all of our customers and stakeholders.”
Posera and Squirrel do not anticipate any significant short-term impact on either company’s employees, customers or channel programs as a result of this merger. More information on this merger will be communicated as it becomes available.