LOS ANGELES, August 24, 2015 – Marlin Equity Partners (“Marlin”) is pleased to announce that it has acquired Syrus Ltd. (“Syrus”), a leading provider of back office and analytical reporting software and services for the restaurant industry. The company’s mobile and web-based SaaS offering, currently in use at over 2,000 restaurants, provides critical insight into day-to-day operations that enable clients to grow sales, reduce food, inventory and labor costs, and improve their overall operational efficiency. Syrus has been merged with Vivonet, Inc. (“Vivonet”), a Marlin portfolio company, adding new back office and business intelligence functionality to Vivonet’s existing product offering, and creating an end-to-end provider of software solutions for the restaurant market.
“We are extremely excited to add Syrus’ market-leading product, strong customer base and talented team to the Vivonet platform,” said Alaa Pasha, the CEO of Vivonet. “The acquisition of Syrus helps us increase our competitive advantage and drive incremental growth, and demonstrates our commitment to delivering best-in-class products and services to our customers.”
Steve Johnson, a partner at Marlin, added, “Over the past few years, Syrus has established itself as a leader in the back office software market for quick service restaurants. Syrus is a highly strategic acquisition for Vivonet and represents a significant step toward creating a full-service SaaS solution for the hospitality industry.”
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $3 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthens a company’s outlook and enhances value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 90 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.
About Vivonet
Vivonet is a North American leader in cloud-based point-of-sale software and systems for the food service sector. Its solutions are designed for remote management of single and multi-location operations, managing complex workflows and order management, and facilitating consumer interactions through integrated mobile applications on the iOS and Android platforms. Vivonet processes millions of consumer transactions every month, with a customer base that includes contract foodservice operators, limited service restaurants, table service restaurants and retail operators. These customers rely on Vivonet’s market leading products as the backbone of their operations, including sales and loyalty management, sales analytics and enterprise management. For more information, please visit www.vivonet.com.
For additional information, please contact Peter Spasov at (310) 364-0100 or via e-mail at pspasov@marlinequity.com.