Posera Software and Squirrel Systems Terminate Merger Discussions

  • Maitre'D
  • 04.13.07
Leading hospitality point of sale providers Posera Software Inc. and Squirrel Systems announced today that merger discussions resulted in a mutual decision not to merge the two privately held companies.

Mr. Jim Gillis, President at Posera Software Inc. states: “Although we greatly respect Squirrel and have recognized the company’s strengths, our organizations have decided not to pursue the merger. Research and in depth discussions led to the conclusion that at this time a merger was not the right strategic solution for both entities.”

Mr. Charles Young, interim President of Squirrel concludes: “That on the surface, the potential integration synergies looked very promising; however, through due diligence, those prospects became less likely. We certainly wish Posera well and appreciate all their efforts during this process. We want to assure our customers that we remain committed to serving them and that this decision will allow us to get on with that job.”About
Posera Software Inc.
Posera Software develops software solutions for the hospitality industry. Posera has over 20,000 customers in 15 countries, operates 3 corporate offices and manages a worldwide distribution network, which enforces the company's International position. Posera’s Maitre’D software suite offers a complete set of solution to effectively manage restaurants of any size.
About Squirrel Systems
Squirrel Systems is a leading total solutions provider of point of sale and management systems for independent and chain establishments, including restaurants and food and beverage operations in hotels, resorts and clubs. Headquartered in Vancouver, Squirrel Systems and Squirrel Systems Canada are privately held companies. In its 20+ years, Squirrel has earned a reputation for innovation and excellence by meeting and exceeding the needs of more than 10,000 customers with 50,000 installed Squirrel workstations. www.squirrelsystems.com

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