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Newmarket International, Inc. Acquires MTech(November 02, 2011)
PORTSMOUTH, NH -- (Marketwire) -- 11/02/11 -- NEWMARKET® INTERNATIONAL, INC. (www.newmarketinc.com), today announced that it has acquired MTECH (www.m-tech.com), the leading Software-as-a-Service (SaaS) hospitality automation platform.
The purchase of MTECH represents NEWMARKET INTERNATIONAL's unwavering commitment to be the global leader in hospitality and meeting and events.
"Our acquisition of MTECH will revolutionize the distribution of actions required to efficiently set-up, modify, and service events," says Jeff Hiscox, President and Chief Executive Officer at NEWMARKET INTERNATIONAL. "When integrated with NEWMARKET INTERNATIONAL's newest version of Delphi® sales and catering, MTECH customers will have complete control in setting up workflows, measuring progress and evaluating labor usage. It's a Win-Win-Win -- not only for Newmarket International and MTECH, but also for our mutual customers who will benefit even more in terms of revenue and cost savings potential."
"We are excited to join the NEWMARKET INTERNATIONAL team," stated Luis Segredo, President and CEO of MTECH. "The acquisition by NEWMARKET INTERNATIONAL provides a great opportunity for MTECH to grow by leveraging NEWMARKET INTERNATIONAL's industry leadership and presence and through expansion of MTECH's products, services, and markets served. NEWMARKET INTERNATIONAL and MTECH serve the same core hospitality markets; therefore, MTECH is the ideal partner to provide new, innovative solutions to NEWMARKET INTERNATIONAL clients worldwide."
Segredo will join NEWMARKET INTERNATIONAL, continuing as President, MTECH, a division of NEWMARKET INTERNATIONAL, Inc. Segredo will manage all aspects of the MTECH business, and MTECH will continue to maintain operations and service existing customers out of their headquarters in Miami, Florida.
About Newmarket International
Founded in 1985, Newmarket® International delivers proven business services that turn venue space into revenue streams. Today, our solutions are a cornerstone in the global hospitality marketplace, with more than 28,000 installations worldwide. Our flagship product Delphi® remains the industry standard for empowering hospitality to generate more revenue, lower costs, increase profitability, and improve guest satisfaction. Newmarket International is headquartered in Portsmouth, New Hampshire, with international offices in London, Shanghai and Singapore. For more information, please visit www.newmarketinc.com or contact firstname.lastname@example.org, and follow Newmarket International on Twitter, Facebook, and LinkedIn.
Since 1993, MTech has developed and installed solutions to help hotels work smarter -- not harder. The company serves more than 2,000 hotels in over 40 countries. Focused on improving guest service by improving efficiency, MTech offers HotSOS, PMWorks, REX and now Libra OnDemand. All MTech solutions today are enterprise level, SaaS solutions that offer maximum value with limited investment. MTech also provides consulting and training services to help customers achieve maximum value from their investments. It serves its customers from data centers in Miami, Las Vegas and Hong Kong, and its company headquarters are in Miami. For more information on the company, please visit www.m-tech.com.
Director, Marketing and Business Development
Newmarket International, Inc.
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