PRESS RELEASES
Newmarket International, Inc. Acquires MTech
2 November 2011 - Portsmouth, NH – 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
Newmarket International, Inc. (www.newmarketinc.com) is the leader in delivering group distribution, sales and event execution software to the global hospitality and entertainment industries. Newmarket International's suite of business solutions can be found in hotels, casinos, restaurants, visitor bureaus, stadiums, meeting arenas and convention centers throughout the world. Newmarket International has over 28,000 software installations in over 154 countries. Newmarket International is headquartered in Portsmouth, New Hampshire, with international offices in London, Shanghai and Singapore. For more information, please visit www.newmarketinc.com.
About MTech
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.
