TORONTO, April 5, 2017 /CNW/ - Posera Ltd. (TSX : PAY) ("Posera" or the "Company"), a leading provider of mission critical software solutions for the hospitality industry announced today that it has successfully deployed its Point-of-Sale ("POS") software technology in the Philippines, leveraging the International expansion of a major customer.
"We are delighted to have had a successful launch in the Philippines which will be a reference account for our broader expansion throughout Asia. This deployment was achieved on an aggressive schedule which is a testimonial to the versatility of our product, dedication of our employees and the confidence of our customer and their local partner," said Paul Schafer, Vice President of Major Accounts.
"Posera has a deep expertise in providing technology solutions for the Quick Service Restaurant ("QSR") industry and Posera's successful launch confirms that our QSR POS solutions that have been proven in North American and Europe are also suited to the fastest growing markets, including Asia. Posera has made a significant investment to establish this beachhead in Southeast Asia, which will provide a launching pad to the rest of Asia. Posera has thousands of QSR locations deployed worldwide, with concentrations in Europe and North America. This demonstrates that our POS products are well suited to International growth in the economies of Asia, Africa, Central and South America, as our products have been built from inception with a multi-lingual approach," said Dan Poirier, Chief Executive Officer.
Transparency Market Research ("TMR") estimates(1) that the global fast food market is expected to grow to $617.1 billion USD by 2019 from $477.1 billion USD in 2013. Further TMR predicts that growth will be accelerated in the emerging regions, such as Asia, Africa, Central and South America, because of favourable demographics, increasing disposable income and greater urbanization. These trends have spearheaded Posera's approach to focus on these developing markets and expand our footprint beyond North America and Europe.
The Company will hold a conference call on Friday, April 7th, 2017 to discuss the financial results for the year and three-months ended December 31, 2016, at 11:00 AM Eastern Standard Time hosted by Loudon Owen, Executive Chair, Dan Poirier, Chief Executive Office and Kevin Mills, Chief Financial Officer. A question and answer session will follow the corporate update.
CONFERENCE CALL DETAILS
Date: Friday, April 7th, 2017
Time: 11:00 AM Eastern Standard Time
Participant Dial-in Numbers:
Local – Toronto (+1) 647-427-7450
Toll Free - North America (+1) 888-231-8191
Conference ID: 4066577
Posera has been a leading provider of hospitality technology for more than 30 years. It manages merchant transactions with consumers and facilitates all aspects of the payment transaction.
Posera's full service solutions include SecureTablePay, which is an EMV compliant Pay-At-The-Table ("PATT") application. Posera's Maitre'D™ and FingerPrints™ restaurant management systems offer a robust and comprehensive solution including hardware integration services, merchant staff training, system installation services, post-sale software and hardware customer support. Posera's solutions are deployed globally including across the full spectrum of restaurants, from large chains and independent table service restaurants to international quick service chains and its products have been translated into eight languages. For more information, visit www.posera.com
Posera Ltd.'s shares are traded on the Toronto Stock Exchange under the symbol "PAY".
Transparency Market Research: Global Fast Food Market will be worth US$617.6 billion by 2019, September 29, 2016
This discussion includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with our business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Posera's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Annual Information Form to be filed on March 31st, 2017 with the regulatory authorities. Posera assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless required by law.
SOURCE Posera Ltd.
For further information: Kevin Mills, Chief Financial Officer, 1.519.434.8017, [email protected], www.posera.com