Reksoft enters Partnership Agreement with SoftBrands
Jun 18, 2003
Reksoft, one of Russia's premiere software development companies, announced the completion of the acquisition of its hospitality enterprise suite software Medallion by SoftBrands Hospitality, Inc. Under terms of the partnership, Reksoft will provide product development, support and maintenance services for Medallion and will also remain a local reseller of the product in the Russian market.
Medallion is a Windows-based property management system that serves the needs of small hotel properties as well as chains of limited service hotels. The development of Medallion started in 1995 when Reksoft designed hotel management software for small-to-medium hotels and successfully installed it in a few hotels both in Switzerland and Germany. In the following three years Reksoft continued the product development. In 1998-1999 a number of distribution agreements were signed with Swiss and German companies. There are currently more than 400 Medallion installations worldwide, mostly used in Switzerland (35%), Spain/Portugal (19%) and UK (10%).
The agreement with Reksoft allows SoftBrands, a U.S. based supplier of enterprise-wide software and Internet-enabled solutions for the hospitality industry, to greatly enhance the distribution network for the product. SoftBrands has gained significant experience with the product as a reseller in the EMEA market, and will now expand distribution of the product to a worldwide market including the U.S. and Asia Pacific markets. SoftBrands will position the Medallion property management system as a best-of-breed solution for hotel properties with less than 200 rooms and chains of limited service hotels.
Alexander Egorov, Reksoft Chief Executive Officer, stated, "We are grateful that we have been able to partner with a global supplier like SoftBrands. This partnership allows us to concentrate our business on software development for different vertical markets but still retain expertise in the hospitality area."
Jim Johnson, President of SoftBrands Hospitality, commented, "The acquisition of Medallion gives us an entree into two new segments of the property management market, specifically, smaller hotels as well as the limited service hotel sector. Having marketed the Medallion product in our European and Middle-eastern markets under a reseller agreement, we are excited about the opportunity to expand those successes to our worldwide markets. We look forward to a strong and lengthy relationship with Reksoft, leveraging their skills and knowledge to deliver a high caliber PMS solution."
About Reksoft
Reksoft was established in May 1991 and evolved from an early stage start-up into Russia's premiere system and software development house. Among the services offered to Reksoft's customers are systems integration, project management, IT consulting, contracted software development and feasibility studies. Reksoft provides professional services in the areas of outsourcing and technology consulting, enterprise application development, enterprise content management and embedded systems focusing mainly on telecommunications, manufacturing and retail industries.
About SoftBrands
SoftBrands is a global supplier of enterprise application software. Currently focused on the hospitality and manufacturing industries, the company intends to expand both internally and through acquisitions. With more than 5,000 customers in over 60 countries now actively using its Fourth Shift-, evolutionTM, DemandStreamTM, PORTfolioTM and RIO GrandTM products, SoftBrands has established a worldwide infrastructure for distribution, development and support of enterprise software. The company, headquartered in Minneapolis, Minnesota, has over 700 employees with branch offices in Europe, Asia, Australia, the Middle East and Africa. Additional information about SoftBrands can be found at www.softbrands.com.
About SoftBrands Hospitality
The SoftBrands Hospitality Group has a dominant position in the hospitality marketplace as a software provider. Its systems include: Property Management Systems (PMS), Point of Sale, Central Reservation Systems, Internet Bookings, Restaurant & Banqueting and Spa, Club, Golf and Retail management. The Hospitality Group has a broad spectrum of clients from hotels, resorts and restaurants, to spas and country clubs. SoftBrands Hospitality is committed to the ongoing care of its customers. It continually enhances its product and invests in finding new solutions, which use technology to meet business challenges. Its combination of powerful solutions gives customers the ability to focus on "the business of doing business".
Contact:
Don Bryan
Vice President of Marketing
SoftBrands Hospitality
Tel: +1 916-853-6241
email: [email protected]
www.softbrands.com
Contact:
Svetlana Antonyuk
PR Director
Reksoft
Tel: +7 812 325 21 00
email: [email protected]
www.reksoft.com
Medallion is a Windows-based property management system that serves the needs of small hotel properties as well as chains of limited service hotels. The development of Medallion started in 1995 when Reksoft designed hotel management software for small-to-medium hotels and successfully installed it in a few hotels both in Switzerland and Germany. In the following three years Reksoft continued the product development. In 1998-1999 a number of distribution agreements were signed with Swiss and German companies. There are currently more than 400 Medallion installations worldwide, mostly used in Switzerland (35%), Spain/Portugal (19%) and UK (10%).
The agreement with Reksoft allows SoftBrands, a U.S. based supplier of enterprise-wide software and Internet-enabled solutions for the hospitality industry, to greatly enhance the distribution network for the product. SoftBrands has gained significant experience with the product as a reseller in the EMEA market, and will now expand distribution of the product to a worldwide market including the U.S. and Asia Pacific markets. SoftBrands will position the Medallion property management system as a best-of-breed solution for hotel properties with less than 200 rooms and chains of limited service hotels.
Alexander Egorov, Reksoft Chief Executive Officer, stated, "We are grateful that we have been able to partner with a global supplier like SoftBrands. This partnership allows us to concentrate our business on software development for different vertical markets but still retain expertise in the hospitality area."
Jim Johnson, President of SoftBrands Hospitality, commented, "The acquisition of Medallion gives us an entree into two new segments of the property management market, specifically, smaller hotels as well as the limited service hotel sector. Having marketed the Medallion product in our European and Middle-eastern markets under a reseller agreement, we are excited about the opportunity to expand those successes to our worldwide markets. We look forward to a strong and lengthy relationship with Reksoft, leveraging their skills and knowledge to deliver a high caliber PMS solution."
About Reksoft
Reksoft was established in May 1991 and evolved from an early stage start-up into Russia's premiere system and software development house. Among the services offered to Reksoft's customers are systems integration, project management, IT consulting, contracted software development and feasibility studies. Reksoft provides professional services in the areas of outsourcing and technology consulting, enterprise application development, enterprise content management and embedded systems focusing mainly on telecommunications, manufacturing and retail industries.
About SoftBrands
SoftBrands is a global supplier of enterprise application software. Currently focused on the hospitality and manufacturing industries, the company intends to expand both internally and through acquisitions. With more than 5,000 customers in over 60 countries now actively using its Fourth Shift-, evolutionTM, DemandStreamTM, PORTfolioTM and RIO GrandTM products, SoftBrands has established a worldwide infrastructure for distribution, development and support of enterprise software. The company, headquartered in Minneapolis, Minnesota, has over 700 employees with branch offices in Europe, Asia, Australia, the Middle East and Africa. Additional information about SoftBrands can be found at www.softbrands.com.
About SoftBrands Hospitality
The SoftBrands Hospitality Group has a dominant position in the hospitality marketplace as a software provider. Its systems include: Property Management Systems (PMS), Point of Sale, Central Reservation Systems, Internet Bookings, Restaurant & Banqueting and Spa, Club, Golf and Retail management. The Hospitality Group has a broad spectrum of clients from hotels, resorts and restaurants, to spas and country clubs. SoftBrands Hospitality is committed to the ongoing care of its customers. It continually enhances its product and invests in finding new solutions, which use technology to meet business challenges. Its combination of powerful solutions gives customers the ability to focus on "the business of doing business".
Contact:
Don Bryan
Vice President of Marketing
SoftBrands Hospitality
Tel: +1 916-853-6241
email: [email protected]
www.softbrands.com
Contact:
Svetlana Antonyuk
PR Director
Reksoft
Tel: +7 812 325 21 00
email: [email protected]
www.reksoft.com