LSI Software S.A. takes over Softech – a software developer for the catering/hospitality sector
On January 19th 2007 a preliminary agreement on the purchase of 100% of the shares in Softech Sp. z o.o. company by LSI Software SA was signed at the headquarters of LSI Software S.A. in Łódź.
Softech started its business in 1992 in Kołobrzeg. The company manufactures Gastro, the most popular programs for the catering sector in the Polish market, and a hotel application – Chart. The company sells its products through the chain of almost 200 partners in Poland and abroad. In 2005, the company recorded approx. 3 million PLN of sales revenues.
After the acquisition of Softech, LSI Software S.A. becomes the leading software provider for the catering and hospitality sector. The company supplies software for nearly 4,500 catering outlets and more than 500 hotels. This means that LSI Software and Softech, according to their own calculations, have approx. 80% of the market share in the catering software market, and approx. 50% share in the hotel software market.
It is a very profitable move for both companies. Instead of competing, the companies will closely cooperate. “There are brand new perspectives opening for us” – emphasizes Grzegorz Siewiera, President of the Management Board of LSI Software.
LSI Software S.A. will continue developing Gastro and Chart products and will strengthen their position in the sector of minor restaurants and hotels. Its current products will be directed, just as before, to customers seeking non-standard solutions, including the catering chains and hotels. The company will extend the offer for partner chains with novel hardware solutions and proprietary financial/accounting, HR/payroll and sales/warehousing software for shops.
In the near future, the companies, using common experiences and conquered market shares and also making the most of the effect of scale and synergy, intend to develop new business activities.
The company expects a significant growth of revenue as an effect of the acquisition in 2007.