Science & Technology
Thu, June 23, 2011Wed, June 22, 2011Tue, June 21, 2011Mon, June 20, 2011Sun, June 19, 2011Sat, June 18, 2011Fri, June 17, 2011Thu, June 16, 2011Wed, June 15, 2011Tue, June 14, 2011Mon, June 13, 2011Fri, June 10, 2011Thu, June 9, 2011Wed, June 8, 2011Posera-HDX to acquire 2020 HyperVision &; 2020 HyperScheduler
Published in Science and Technology on Thursday, June 16th 2011 at 5:26 GMT by Market Wire
TORONTO, June 16, 2011 /CNW/ - Posera-HDX Inc. (TSX:HDX) (the Company) announced today that it has signed a binding agreement to acquire the hospitality division assets of 2020 IT Solutions Corp. ("2020"). The terms of the transaction were not disclosed. HDX is listed on the TSX under the symbol "HDX".
2020 was established in 1998 and is located at Innovation Place at the University of Saskatchewan, Saskatoon SK. Canada. 2020 is a software development company specializing in hosted, subscription model, web / cloud based solutions. 2020 creates innovative hosted management solutions specifically for the restaurant industry and has successfully deployed solutions throughout North America.
Restaurant operators in today's extremely competitive hospitality industry must successfully manage their work force and food costs accurately and efficiently. They require superior automated cost control systems to gain a competitive advantage.
HyperScheduler, utilized and rated number one in its class by a tier one international restaurant chain, is a hosted, subscription model, web/cloud workforce management solution which allows operators to optimize staff schedules based on a sophisticated proprietary sales and product mix forecasting model coupled with matching the most effective and efficient staff for specific positions for time sensitive duties.
HyperVision is a hosted, subscription model, web/cloud based, food cost system allowing restaurants to manage food costs to granular levels not previously achieved. Restaurants utilizing HyperVision are able to compare detailed actual food costs with detailed theoretical food costs. HyperVision is a complete automated inventory control system connecting restaurants to suppliers for just in time inventory deliveries.
Paul Howell, CEO of Posera-HDX states: "Maintaining quality of service while managing a part-time workforce with high turnover is a difficult problem for business operators. Ensuring food safety for consumers while minimizing waste and spoilage is mandatory for any restaurant's success. Accordingly, our clients have expressed a need to manage their work force and food costs to a very granular level within very tight daytime segments. 2020's solutions are state of the art and with over twenty thousand restaurants world-wide using Posera-HDX's Fingerprints and Maitre' D POS solutions, we are very excited about the benefits these hosted solutions will provide to our user base. These applications have industry-wide appeal and offer excellent return on investment for business operators. Because we offer these tools as hosted, subscription based solutions, no site visits are required for integration to our point of sale applications. Chains can be deployed very quickly because managers can be trained remotely via webinar. This allows restaurants to reduce up-front implementation costs and achieve an immediate return on their investment. The cost of monthly subscription fees pale in comparison to the labour and food cost savings available."
The transaction is expected to be completed on or about July 29, 2011. Additionally, the transaction is subject to a number of condition including the completion of due diligence by the Company and receiving all necessary regulatory and other approvals.
Through its corporate offices in Toronto, London, Brantford, Seattle WA, Montreal Quebec, Paris France, Singapore, and Glasgow UK, Posera-HDX has a direct sales and service team.
The company has also built a network of approximately 120 value added resale partner companies in 25 countries. There are approximately 1,100 representatives selling, supporting & installing the Posera-HDX Maitre 'D software worldwide and the solution has been deployed in over 20,000 locations in eight different languages around the world.
Posera-HDX customers include Tim Hortons, Wendy's, Arby's, Quick (France), Popeye's, East Side Mario's, O'briens, St-Hubert, Pita Pit, Popeye's, Dunkin' Donuts, Pizza Delight, Baton Rouge, Scores, Hooters, Casey's, Supermac's, HDOS, KFC, Extreme Pita, Pizza Hut, among many others.
About the Company
Posera-HDX is in the business of managing merchant transactions with consumers and facilitating payment. The company develops and deploys touch screen POS system software and associated enterprise management tools and has developed and deployed numerous POS applications. Posera-HDX also provides system hardware integration services, merchant staff training, system installation services, and post sale software and hardware support services.
Posera-HDX leading edge technology also includes prepaid stored value payments solutions, customer self serve kiosks and "line buster" mobile point of sale terminals. These products have been designed to dramatically enhance customer throughput and drastically reduce customer queues. These technologies are especially effective in high foot traffic environments that have limited cash register counter space, limited retail square footage, and the absence of a drive through.
Posera-HDX Inc. develops, deploys, and supports a restaurant point-of-sale software know as "Maitre'D" which has been deployed in over 20,000 locations worldwide in eight different languages. The Company sells and services its clients directly, as well as through a network of approximately 120 value added reseller partners in 25 countries with approximately 1,100 representatives selling, supporting & installing its software. Posera-HDX employs approximately 130 people in offices in Toronto, London, Brantford, Mississauga, Seattle, Montreal, Glasgow (U.K.), Paris (France) and Singapore.
Forward-Looking Statements
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. 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 HDX'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 the matters discussed under "Risks and Uncertainties" in the Annual Information Form to be filed on March 24th, 2011 with the regulatory authorities. HDX assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
