While financial terms were not disclosed, under the agreement Quickservice will continue to operate as a separate division under the Japanese tech giant’s Canadian arm, formally renaming itself “Quickservice Technologies, A Panasonic Company,” with approximately 100 QST employees officially joining Panasonic Canada. The acquisition is expected to close before the end of February.
“Adding the experts from (Quickservice) to Panasonic Canada helps to augment the strengths of both organizations,” Panasonic Canada president Michael Moskowitz told ITBusiness.ca. “We are keen to see what possibilities we can unleash as a unified team.”
Founded in 1960, Quickservice provides security and point of sale software, hardware, and integration services, including flagship point of sale software iQTouch, to thousands of fast food restaurants across Canada, the U.S., and certain international markets. Its joint clients with Panasonic, which also serves the fast food industry and with which Quickservice has collaborated for more than 20 years, include Tim Hortons, McDonald’s, and Wendy’s, while the company’s other clients include A&W and Dairy Queen.
By acquiring Quickservice, Panasonic Canada aims to incorporate both the company’s software and its integration and support systems, which include stationing technicians and project managers in strategic locations, into its existing range of restaurant services and technology, while supporting their further development.
In a statement, Quickservice president Philip Turner called the Panasonic acquisition “an important step” in Quickservice’s continued growth that would “bring more opportunities to the table” and have a “very positive” impact on both his company and its clients, who will benefit from having a single source for on-site service and customer support, Moskowitz said.