Acquisition will accelerate BirchStreet's growth within the Select Service Hotel segment
BirchStreet Systems, a leading global provider of enterprise procure-to-pay solutions to the hospitality sector, today announced the acquisition of ReactorNet Technologies, a provider of business spend management software and related solutions to the hospitality vertical. The acquisition further advances BirchStreet's leadership position in hospitality through enhancing its presence in the select service segment of hotel management while also providing for new vertical growth opportunities.
Founded in 2000 and based in San Antonio, TX, ReactorNet's platform supports over $2.0B of annual customer spend across more than 4,000 customer locations and 16,000 distinct users. Its solutions provide core features such as purchasing management, accounts payable automation, capital project management, inventory management, recipe management and reporting and analytics. ReactorNet's active management shareholders will continue to operate ReactorNet following closing as BirchStreet's select service offering within hospitality.
"We welcome ReactorNet's customers to the BirchStreet community and continue our commitment to helping hospitality brands operate more efficiently, make data-driven purchasing decisions and create profitable business outcomes," said John Fay, BirchStreet's CEO. "The addition of ReactorNet's technology, people and expertise strengthens our ability to provide value to all our customers."
Anita Watts, Co-Founder, ReactorNet said: "We are thrilled to join the BirchStreet family. The resources of BirchStreet and its investors will allow us to accelerate innovation of our products and services to meet the complex needs of our growing customer base. We've found a partner who shares our values, culture, and commitment to the success of our customers."
"BirchStreet helped hundreds of enterprise customers to successfully transform and streamline their procurement operations," said Brendan Reidy, BirchStreet's Chairman of the Board. "With the addition of ReactorNet, we see a meaningful opportunity to extend BirchStreet's presence into the fastest growing segment of hospitality and create a unique value proposition for select-service properties."
About BirchStreet Systems
Founded in 2002, BirchStreet is the leading global provider of enterprise procure-to-pay solutions for the hospitality sector. BirchStreet's software platform provides leading global hospitality brands with a full suite of procurement applications, including eProcurement software, accounts payable automation, invoice management, inventory management, recipe management, supplier payments, and reporting and analytics. BirchStreet's customers leverage the company's solutions to access a broad network of suppliers and manage billions of dollars of spend annually across a wide variety of categories, including food and beverage, operating supplies, maintenance services and capital projects. For more information, please visit www.birchstreetsystems.com.
About ReactorNet
Founded in 2000, ReactorNet is a leading provider of business spend management software and related solutions to the hospitality, entertainment and healthcare verticals. Through its EPRO product, ReactorNet provides its customers with mission critical functionality to manage spend and supplier relationships, including purchasing management, accounts payable automation, capital project management, inventory management, recipe management and reporting and analytics. For more information, please visit https://www.reactornet.com/.
Media Contact:
Irina Jakovleva
Chief Marketing Officer
ijakovleva@birchstreet.net