Posera Completes the Sale of the FingerPrints™ POS System to SICOM
September 15 2017 - 8:00AM
InvestorsHub NewsWire
Toronto, ON -- September 14, 2017 --InvestorsHub Newswire --
Posera Ltd. (TSX:
PAY) (“Posera” or the “Company”), today announced that it has
completed the sale of its FingerPrints point-of-sale (POS) system
to SICOM Systems, Inc. for $12.2 million. The consideration for the
FingerPrints asset sale is comprised of cash and will be subject to
post-closing adjustments.
“The addition of FingerPrints strengthens our commitment to
delivering a complete portfolio for QSR brands, franchises and
restaurants. It is a robust product that drives greater efficiency
and speed of service for quick service restaurants and will
complement our existing solutions,” said Jim Flynn, CEO of SICOM.
“With its Canadian presence, this acquisition provides us with
physical locations in Canada, helping us to better serve our
current customers there and expanding our international
presence.”
FingerPrints was launched in 2004 and currently operates in many
leading QSR locations across Canada. Complemented by the
Hypervision and Hyperscheduler offerings, FingerPrints enjoys an
intuitive user interface and fully redundant system with integrated
payment, EMV, loyalty and gift card capabilities as well as
centralized menu and pricing programming, together with enabled
mobile ordering.
“SICOM is the perfect fit for FingerPrints; with its thirty-year
history of offering innovative products and services, its expansive
customer list of the top QSR brand names and its commitment to
growth, SICOM is the ideal accelerator to the FingerPrints brand’s
continued success,” explained Dan Poirier, CEO of Posera. “This
transaction is an exciting strategic evolution for Posera, allowing
us to focus on Maitre’D, one of the premier POS brands, complete
the roll out of SecureTablePay and capture the kitchen display
market,” added Poirier.
Over 1,100 QSR restaurants throughout Canada that operate with the
FingerPrints system will now be managed by SICOM.
About Posera
Posera has been a leading provider of hospitality technology for
more than 30 years. It manages merchant transactions with consumers
and facilitates all aspects of the payment transaction.
Posera’s full service solutions include: SecureTablePay®, an EMV
compliant pay-at-the-table application; Maitre’D®, a point of sale
system which offers a robust and comprehensive solution including
hardware integration services, merchant staff training, system
installation services, post-sale software and hardware customer
support; and KDS, a Kitchen Display System that is now available as
a standalone product. Posera’s solutions are deployed globally
across the full spectrum of restaurants, from large chains and
independent table service restaurants to international quick
service chains and its products have been translated into eight
languages.
More information about Posera can be found on the Company’s website
at www.posera.com or under the Company’s profile on SEDAR at
www.sedar.com.
Forward-Looking Statements This news release includes certain
forward-looking statements that are based upon current
expectations, which involve risks and uncertainties associated with
the Company’s business and the environment in which the business
operates. These statements include, but are not limited to, the
expected size and completion date of the Offering, participation in
the Offering by certain insiders, and the use of proceeds from the
Offering. Any statements contained herein that are not statements
of historical facts may be deemed to be forward-looking, including
those identified by the expressions “anticipate”, “believe”,
“plan”, “estimate”, “expect”, “intend”, and similar expressions to
the extent they relate to the Company or its management. The
forward-looking statements are not historical facts, but reflect
Posera’s current expectations regarding future results or events.
These forward-looking statements are subject to a number of risks
and uncertainties that could cause actual results or events to
differ materially from current expectations, including general
market conditions as they relate to the Company’s Shares, and the
matters discussed under “Risks and Uncertainties” in the Annual
Information Form filed on March 31st, 2017 with the securities
regulatory authorities and available on SEDAR. Posera assumes no
obligation to update the forwardlooking statements, or to update
the reasons why actual results could differ from those reflected in
the forwardlooking statements, unless required by law.
For more information:
Kevin Mills, Chief Financial Office
1.519.434.8017
ir@posera.com
www.posera.com
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