News from the Wire

Vivonet acquires Syrus Restaurant Information Services

Tuesday, August 25, 2015 — 12:22:22 (EDT)

Vancouver and Columbus, Ohio, Aug 24, 2015 - Vivonet Acquisitions Ltd., a leading provider of 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, OH. 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. Their solutions are used by more than 2,500 restaurants consisting of local, regional, and national chains.

"Syrus has an impressive list of customers in the food service industry," said 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," said 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."

About Vivonet: Vivonet's omni-channel POS solutions process millions of transactions every month for clients in the restaurant industry across the United States and Canada. Vivonet's mission is to help every restaurant in the world succeed by turning transactions into insights and opportunities. Vivonet's current products include Vivonet POS, Vivonet Mobile, Vivonet Tablet, and Vivonet Kiosk. All of these products are integrated with Vivonet's cloud based reporting system, Enterprise Manager. With global headquarters in Vancouver, Canada and US operations in Atlanta, GA, Vivonet services clients throughout North America. Vivonet is a privately held company and is majority owned by Marlin Equity Partners. For more information, visit www.vivonet.com .

About Syrus: Syrus Restaurant Information Services is the leading provider of back office and above-store reporting tools and services for the restaurant industry. The in-store tools and services allow 2,500+ restaurants to grow sales and reduce food, inventory and labor costs all while improving their overall operational efficiency. Syrus provides both the software and the day-to-day technical and administrative oversight that clients rely on to receive complete and accurate information every day.

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Source: Company press release.