Press Releases
Squirrel Systems acquires exclusive rights to customer loyalty software suite from long-standing partner Lochinvar Software Inc.
Squirrel to re-brand and integrate Lochinvar software into POS product line, and assume responsibility for existing support and maintenance contracts
FOR IMMEDIATE RELEASE.Vancouver, BC - May 02, 2005 - Squirrel has acquired source code rights to Lochinvar's suite of software products which are currently integrated to the Squirrel POS System. Effective immediately, Squirrel Systems will develop, sell, train and support former Lochinvar software under the brand name Squirrel Customer Relationship Management (CRM). The product suite includes Lochinvar's Gift Card, Customer Loyalty and Delivery modules, which will be incorporated into the Squirrel product line immediately.
A long-standing Squirrel partner, Lochinvar Software Inc. designs customized, cost-effective loyalty marketing programs which offer customers creative ways to recognize and reward restaurant patrons. The company's customized CRE (Customer Relationship EnhancementT) solutions, developed specifically for the hospitality and selected retail markets, give restaurateurs the ability to run one-to-one marketing programs within various operating environments.
Squirrel Systems' strategic acquisition of all Lochinvar software products will give the company ownership of a proven customer loyalty solution. All future software development within the CRM product offering will be implemented by the Squirrel Systems expanded development team. Squirrel has already begun enhancing the applications and integrating Lochinvar's software into its point-of-sale products to offer customers even more value from their Squirrel Systems solutions.
Existing Lochinvar customers have been notified of the acquisition, and end-user support and software maintenance contracts will be transferred to Squirrel effective May 2, 2005.
"Our acquisition of Lochinvar's product suite further positions Squirrel Systems as a leader in providing tailored solutions to restaurant and food and beverage companies," says Barry Logan, president, Squirrel Systems. "We are confident that the integration of Lochinvar's product line into Squirrel's POS solution will generate enhanced business value for Squirrel customers worldwide."
ABOUT Squirrel SYSTEMSSquirrel Systems is a leading total solutions provider of management systems for independent and chain establishments, including restaurants and food and beverage operations in hotels, resorts and clubs. Headquartered in Vancouver, Squirrel Systems and Squirrel Systems Canada are privately held companies. In its 20 years of profitable operation Squirrel has earned a reputation for innovation and excellence by meeting and exceeding the needs of over 10,000 customers with 50,000 installed Squirrel workstations. As the first company to introduce touch-screen ordering into the restaurant market, it has a long track record as an innovator. To learn more about Squirrel, visit www.Squirrelsystems.com.
About Lochinvar Software, Inc.Lochinvar Software Inc. architects and develops customized CRE (Customer Relationship EnhancementT) solutions for the hospitality and selected retail markets. The LOCHINVAR suite of software tools provides one-to-one marketing solutions, which can be run in various operating environments. The software enables restaurateurs to recognize and reward customers by creating customized, cost-effective loyalty marketing programs to meet customers' individual needs. In addition, LOCHINVAR retains a creative group to assist clients with the design and development of their loyalty marketing programs, including gift cards, promotional materials, and advertising programs. For more information, visit www.lochinvarsoftware.com.
For more information please contact Sharon Lassman, High Road Communications at: Email: slassman@highroad.com Phone:(416) 368-8348 ext. 261
For more information on Lochinvar Software Inc., please contact Mike Devine at: Email: mdevine@lochinvarsoftware.com Phone:(604) 681.5007
