Furthering a recent trend of vendors acquiring solution providers, the Canadian arm of Panasonic entered into a definitive agreement to acquire Quickservice Technologies Inc. of St. Catharines, Ont.
Quickservice is a solution provider focused on the security and point of sale area of the quick service restaurant sector. Quickservice have clients such as A&W and Dairy Queen.
Recently the Canadian channel saw similar deals from Hitachi buying Ideaca and Konica Minolta acquiring IT Weapons. Two CDN Top 100 Solution Providers.
Michael Moskowitz, President of Panasonic Canada and former Palm Canada GM, said this move represents Panasonic addressing the company’s goal to become a full scale service integration organization.
Panasonic also has a new strategy to build or expand into lines of business such as housing, public safety, solar and energy storage.
The deal also assists Panasonic Canada’s position in the quick service restaurant market. The subsidiary sports high profile customers such as Tim Horton’s and McDonald’s.
Moskowitz said by harnessing the strength of Quickservice Technologies’ integration services, and Panasonic’s technology innovation, the company will bring solutions to the most complex business challenges facing organizations now and in the future.
The acquisition is expected to close by the end of February. The new company will be called “Quickservice Technologies, A Panasonic Company” and will operate as a separate division of Panasonic Canada when the acquisition closes, again similar to the arrangements with Ideaca and IT Weapons.
Approximately 100 Quickservice staff will join the Panasonic Canada team.