|FOR IMMEDIATE RELEASE|
Panasonic Canada Inc. to aquire Quickservice Technologies Inc.
Quick service restaurant industry leader joins forces with expert technology provider
MISSISSAUGA, ON (February 8, 2016) – Panasonic Canada Inc. announced today it has entered into a definitive agreement to acquire Quickservice Technologies Inc. The technology solutions company provides security and point of sale software, hardware, and integration services to the Quick Service Restaurant (QSR) sector, serving customers across Canada, the U.S. and key international markets. It is headquartered in St. Catharines, Ontario, and was founded in 1960. Panasonic Canada provides a full spectrum of professional services and technology for customers in the QSR industry.
Through the acquisition Panasonic Canada will strengthen its position in the QSR market with new integration services and technology. “QSR leaders face complex business challenges and pressing technology decisions. By harnessing the strength of Quickservice Technologies’ integration services, and Panasonic’s technology innovation leadership, Panasonic Canada will bring solutions to the most complex business challenges facing organizations now and in the future,” said Michael Moskowitz, President, Panasonic Canada.
The acquisition is expected to close by the end of Febraury, 2016. The new company will be called “Quickservice Technologies, A Panasonic Company” and will operate as a separate division of Panasonic Canada when the acquisition closes. Close to 100 Quickservice Technologies professionals will join the Panasonic Canada team. The acquisition will enable Quickservice Technologies, whose flagship software includes its proprietary iQTouch for point of sale applications, to expand its offerings to existing and new customers. Panasonic Canada will be able to offer full integration and support services to complement its existing product offerings.
“As a trusted partner with Panasonic for over 20 years, our decision to join Panasonic represents an important step in support of our continued growth in key markets. This will be very positive for our team and our clients,” said Philip Turner, President, Quickservice Technologies. “Together we will be able to bring more opportunities to the table, and provide global support to QSR customers as we create a dynamic unified hardware and service offering that will answer the needs of a broader range of customers – this is key to staying ahead of this fast-evolving landscape.”
The Quickservice Technologies client base includes thousands of restaurants and these customers have come to rely on Quickservice for 24/7 support and onsite integration to ensure their mission critical QSR systems are always running effectively. The QSR segment in Canada currently accounts for 4.3 billion annual restaurant visits and generates CAD$23 billion dollars a year.
About Panasonic Canada Inc.
About Quickservice Technologies Inc.
###For more information, please contact: