Valsoft Enters Hotel Management Vertical with Acquisition of InnQuest
MONTREAL, QUEBEC–(Marketwired – July 7, 2016) – Valsoft, a company specialized in the acquisition and development of vertical market software companies, is pleased to announce the acquisition of the assets of InnQuest Software Corporation, an established leader in the hotel management software industry.
InnQuest’s popular hotel management software, roomMaster, is used in over 100 countries and by over 5,500 clients worldwide. The software was developed by hoteliers for hoteliers and has been widely praised for its intuitive performance and ease of use. roomMaster provides every software management product a hotel needs in one simple turnkey solution, including a booking engine with a channel manager linked to Expedia and Booking.com. InnQuest’s office is located in Tampa, Florida, with international offices in Australia, Canada, and the United Kingdom with resellers in the Caribbean, Fiji, New Zealand, Cambodia, Malaysia and South Africa.
InnQuest was founded in 1995 by its President, Mr. Robert Paresi, and Vice President, Mr. Tyler White. From the beginning, they established customer delight as a cornerstone of its business and has, as a result, built an invaluable reputation among its clients.
“We have analyzed many companies in our business careers and rarely have we seen one that operates at InnQuest’s level of efficiency,” remarked Sam Youssef, Valsoft’s CEO. “We intend to manage, grow and invest in roomMaster for decades to come. We are eager to pursue the legacy of service excellence started by Robert Paresi and his team, and to increase InnQuest’s customer delight, which is already extremely high.”
Paresi will join Valsoft’s executive team (as InnQuest Founder) and advise Valsoft on strategy, future acquisitions, and the industry in general as the company continues to gain scale. Chuck Dunaj will be promoted from Director of Sales to President of InnQuest. The entire team will continue working out of the Tampa office.
“InnQuest is Robert Paresi’s life painting,” stated Steph Manos, Valsoft’s head of M&A. “Its current success and promising future are a consequence of Paresi pouring his heart and work into his creation.”
“InnQuest Software, its employees, clients, resellers, and products are very special to me. It was extremely important to pass the torch to the right company,” explained Paresi. “We were approached by many investment and hotel companies over the years. However, we quickly learned that Valsoft shared the same core values as InnQuest, which gave us tremendous confidence in the future and in the ability of the expanded team to take roomMaster to the next level. Tyler and I are committed to making this a seamless and very successful transition.”
“All of us at Valsoft feel extremely privileged to be entrusted with the growth of InnQuest’s roomMaster software. Valsoft will be InnQuest’s permanent home and we will invest in it accordingly”, concluded Steph Manos.
Valsoft Corporation was represented internally by David Felicissimo, General Counsel. InnQuest Software Corporation was represented by Frederick K. Koenen of Schinner & Shain, LLP.
“InnQuest” is a registered trademark of InnQuest Software Corporation.