MSL Solutions acquires Australian POS business OrderMate for $7.5million
Global hospitality venues technology provider, MSL Solutions Limited has acquired Australian Point of Sale (POS) business OrderMate for $7.5million which will see MSL expand its footprint from its established market in the stadium, arena, pubs and clubs’ market into the adjacent and complementary restaurant and takeaway food vertical.
The acquisition will also broaden MSL’s customer network from approximately 6,000 venues to more than 8,000 venues, processing over $7 billion in transactions each year.
OrderMate is owned by the founders of QR contactless and digital ordering business, HungryHungry. The sale will allow the founders, Mark Calabro and Shannon Hautot, to focus solely on growing the HungryHungry business which has over 1,500 Australian venues on its platform and has recently launched into the UK.
Founded in 2001 by Calabro and Hautot, and based in Melbourne, OrderMate has developed a range of technologies for POS systems for new and established hospitality venues, including cloud POS, self-service kiosks, table and online ordering, inventory management and integration. These assets will provide MSL with long-term flexibility in the Company’s technology roadmap.
The acquisition will see MSL expand its footprint from its established market in the stadium, arena, pubs and clubs’ market into the adjacent and complementary restaurant and takeaway food vertical. The acquisition will also broaden MSL’s customer network from approximately 6,000 venues to more than 8,000 venues, processing over $7 billion in transactions each year.
In a joint statement Calabro and Hautot advise “when we started OrderMate we were driven by a desire to help venues increase efficiencies and profitability through the use of technology.
“Two decades later our vision and purpose remains the same. We are extremely excited by this acquisition and look forward to seeing the future success and growth of OrderMate under MSL. It was very important for us that OrderMate found a new home, where it would be able to further scale and make a positive impact to so many hospitality businesses.
“We know that we’re leaving OrderMate in good hands led by our long term CEO Leigh Richardson and General Manager Narelle Yacoub and the team at MSL.
Calabro and Hautot add “we also look forward to continuing our commitment to the future of hospitality, working with both OrderMate and MSL through our newest venture, QR and digital ordering business, HungryHungry.
“Becoming shareholders of MSL demonstrates our continued support of OrderMate and the broader MSL business, and we look forward to strengthening our relationship with Pat and the team through our ongoing partnership between MSL and HungryHungry.”
MSL Chief Executive, Pat Howard enthused “we are delighted to welcome OrderMate and its customers to the MSL Solutions group. OrderMate is a great brand and is an established restaurant point-of-sale provider across Australia which complements our existing SwiftPOS customer footprint.
“With approximately 2,400 venues and ~$2 billion in annual transactional value, OrderMate allows MSL to take a further step toward increasing our financial and operational scale and growing our base of annualised recurring revenue by more than $3 million. We see this acquisition as highly complementary and are excited by what the future will bring us together.”
The acquisition comes as MSL also announces a partnership with US based Taubman Capital as a new investor in the Company to commence it’s US growth strategy.
For more on HungryHungry https://www.hungryhungry.com/
About OrderMate https://www.ordermate.com.au
About MSL Solutions Limited (ASX:MSL)
Image: OrderMate co founders Mark Calabro and Shannon Hautot
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