MONTREAL, Dec. 03, 2018 (GLOBE NEWSWIRE) —
Valsoft Corporation Inc. (“Valsoft”), a Montreal-based company that specializes in the acquisition and development of vertical market software businesses, is pleased to announce the acquisition of CMS Hospitality, an Australia-based hospitality software solutions provider with clients across 25 countries. Under the agreement, Valsoft acquires all CMS assets, including its flagship brand, GuestCentrix.
With more than 30 years’ experience in the industry, CMS Hospitality’s GuestCentrix delivers powerful, scalable, and easy-to-use property management system, channel management, point of sale, conference and banquet applications for resorts, hotels, hostels and apartments.
From his humble beginnings in the early ’80s, Brian Manning, founder of CMS Hospitality, embraced the use of emerging computer technology in hospitality. Through the decades, he kept pace with innovation and propelled his business forward with IBM mainframes, DOS, Windows and cutting-edge, cloud-based HTML5 solutions, continually adapting to the industry’s ever-changing demands.
“I reached a point in our company’s evolution where I started to search for the right partner to enable CMS Hospitality to grow faster and unlock its greater potential,” stated Manning. “The perfect partner had to value our clients, our staff and our products, which are widely used in many countries. Fortunately, I found all those qualities in Valsoft. We have successfully charted a smooth transfer, with our entire staff integrating across Valsoft to ensure uninterrupted product support and development. I am happy to see the company that I built over many years facing a bright future under Valsoft’s leadership.”
Mr. Manning will help with the transition and assist Valsoft in its mission to grow the business rapidly and advance its technology. The acquisition of CMS Hospitality is Valsoft’s sixth investment into the Travel & Leisure software sector and, specifically, its third in hospitality. Under the Valsoft umbrella of companies, CMS Hospitality will continue to expand its portfolio of clients, who will join the more than 6,000 properties that already make up the InnQuest Software and Welcome Systems hotel management software client base. Together, they will give customers in more than 100 countries access to world-class hospitality tools.
“Brian and his team have built a customer-centric organization that provides comprehensive software solutions, elite service, and outstanding end-to-end client experience across every touch point,” said Michael Assi, CEO of Valsoft’s Travel and Leisure division. “We see an extraordinary opportunity to accelerate CMS’s momentum and deliver stronger, long-term value to hoteliers around the world.”
About CMS Hospitality:
CMS Hospitality has been providing software systems to the hospitality industry since 1983. Its flagship product, GuestCentrix, has been designed to international standards and is used extensively by operators ranging from small hostels, hotels, ski resorts, island resorts and corporate hotels, to multi-property accommodation providers in the hostel and hotel segments.
About Valsoft Corporation:
Valsoft Corporation acquires and develops vertical market software companies, enabling each business to deliver the best mission-critical solutions for customers in their respective industry or niche.
A key tenet of Valsoft’s philosophy is to invest in well-established businesses and then foster an entrepreneurial environment that shapes a company into a leader in its respective industry. Unlike private equity and VC firms, Valsoft does not have a pre-defined investment horizon and looks to buy, hold and create value through long-term partnerships with existing management and customers.
Valsoft Corporation was represented internally by David Felicissimo, General Counsel and Pamela Romero, Paralegal and Alistair Jaque of Swaab Attorneys in Sydney. CMS was represented by Robin King of Mills Oakley in Sydney.
Source: Valsoft Corporation
Leeja Murphy, Agence Pink