Posera Completes the Sale of its FingerPrints™ POS System

September 14, 2017
On September 14, 2017, Posera Ltd. (TSX: PAY) (“Posera”), a leading provider of hospitality technology, completed the sale of its FingerPrints™ point-of-sale system and related assets to SICOM Systems, Inc. for $12.2 million, subject to post-closing adjustments.
FingerPrints™ was launched in 2004 and currently operates in many leading QSR (quick service restaurant) locations across Canada. This divestiture by Posera enables it to strengthen its strategic focus on its core products: Maitre'D® POS, KDS (Kitchen Display System), and SecureTablePay® pay-at-the-table solution.

Fasken Martineau advised Posera on this transaction with a team that included Alex Nikolic, Paul Fornazzari and Ryan Schnier.