Fourth has merged with HotSchedules to create the world’s biggest provider of restaurant and hospitality software. The combined business is expected to generate sales of £160m from 8,500 clients around the world, including Casual Dining Group, Greene King, Pizza Express, Stonegate and The Restaurant Group.
“The merger presents a huge opportunity for growth and innovation,” said Ben Hood, co-founder and CEO of Fourth and CEO of the newly merged company. “We are excited to join forces with a company that aligns so closely to our mission, values, history, culture and overall commitment to customer success. After overseeing Fourth’s journey to date, it is a dream partnership.”
David Cantu, co-founder and chief customer officer at HotSchedules, said the merger would “enable us to accelerate innovation. As the two largest players in the restaurant and hospitality vertical, our combined strengths and industry expertise will ensure our customers have the solutions they need to solve complex business problems and remain competitive. We look forward to what the future holds and serving the industry together.”
The deal was backed by Marlin Equity Partners and Insight Venture. “We are excited to team up with Insight Partners in order to bring together two industry leaders,” said Doug Bayerd, a principal at Marlin Equity Partners. “Our combined investment underscores our commitment to the hospitality management solutions market and the value these companies provide for their customers.”Precis