Industry News | August 25, 2015

POS Company Acquisition Drives Tech Progress

Vivonet Acquisitions Ltd., a leading provider of software-as-a-service (SaaS) based point of sale solutions announced that it has completed the acquisition of Syrus Restaurant Information Services, a SaaS provider of back office solutions based in Columbus, Ohio. Under the terms of the agreement, Vivonet has acquired Syrus in an all-cash transaction. This transaction accelerates Vivonet's strategy of providing best-in-class solutions to the hospitality industry.

Syrus is a leading provider of back-office and above-store reporting systems to the restaurant industry in North America. Its solutions are used by more than 2,500 local, regional, and national restaurant chains.

"Syrus has an impressive list of customers in the food service industry," says Vivonet president and CEO, Alaa Pasha. "Their SaaS platform integrates with the leading point of sale systems in the market and we intend to extend and enhance that support for all of the great partnerships that Syrus has established. We were also attracted to the unmatched level of customer service that Syrus provides to their clients. We look forward to working with Syrus to further enhance our capability to turn transactions into insights for our clients. Furthermore, the Syrus multi-tenant architecture and SaaS delivery model make this a perfect match for the Vivonet SaaS point of sale solution."

"We are extremely pleased to be part of Vivonet," says Syrus president and CEO, Jim Karam. "The new combined company will provide Syrus the resources to enhance our product suite, present more value to our customers, and provide Vivonet customers with a highly integrated solution for labor, inventory, and ordering. Our historic focus on the customer and high touch service model complements Vivonet and their high NPS scores for customer service."

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.

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