The transaction, which included the purchase of the majority of HotelTools assets, closed on July 26, 2001.
HotelTools, Inc. is a private entity with headquarters in Atlanta, GA. HotelTools’ product suite includes solutions to centralize all aspects of multi-property hotel operations, including hotel management, rate management, reservations and procurement under either an Application Service Provider (ASP) or traditional license business model. The Internet-native applications and services facilitate both top and bottom line improvement for hotel owners and operators by enabling real time reporting and management from any computer connected to the Internet. The architecture drives improvement across the enterprise in guest satisfaction and yield management, while eliminating labor intensive processes such as commission processing, night audits and re-keying of accounting data.
This acquisition is a key strategic move for Radiant to achieve its goal of delivering intelligent technology to industries that serve customers through multiple distributed sites, commented Erez Goren, CEO of Radiant Systems. Goren continues, With this acquisition, Radiant has a complete suite of applications to manage critical operations functions in the hotel industry. The applications will reside on one management platform and include property management systems, central reservation systems, supply chain management, workforce management, point-of-sale and consolidated reporting.
Seth Christian, CEO for HotelTools, Inc., stated, HotelTools will benefit from Radiant’s experience in providing best of breed applications to the industries they serve. Radiant will add financial stability, infrastructure and a proven track record of innovation to support the HotelTools product in the industry.
SOURCE: COMPANY PRESS RELEASE
