| Santa Barbara, CA, January 4, 2005 � InfoGenesis, a leading provider
of information technology for hospitality and foodservice, announced today
that Warburg Pincus has acquired the company. The transaction closed on
December 29, 2004.
�The entire team at InfoGenesis is pleased to have one of the largest private equity firms join forces with us in our mission,� said Karl Willig, former CEO and founder of the company nineteen years ago. �Warburg Pincus has great respect for what we have accomplished throughout the years, and for the principles upon which we have built our business. At the same time they bring a growth vision and investment commitment that will greatly enhance our business position.� Willig led the company�s nucleus of fewer than a half dozen employees to a position of market leadership while growing the company to more than 160 employees. At the close of the transaction, Willig retired from InfoGenesis and Terry Cunningham became President and CEO. �Under Terry Cunningham�s able leadership, InfoGenesis can look forward to unprecedented growth and strict adherence to product quality coupled with the highest levels of customer service,� added Willig. Cunningham brings to InfoGenesis ample experience in the software industry, having founded Crystal Decisions in 1984, and continuing on to become President of Seagate Software and later President of Veritas Software. �I am honored to be working with the team at InfoGenesis,� said Cunningham. �I admire the passionate commitment they make to their customers, and I am looking forward to continuing the winning culture Karl Willig has so carefully built.� Greg Back, a Managing Director of Warburg Pincus, commented, �InfoGenesis is a terrific company that has built a highly satisfied and growing customer base by leveraging a set of technologically advanced and functionally rich products. To us, the most compelling part of the acquisition was the realization that InfoGenesis today offers much more than a world class point-of-sale solution.� In conjunction with the transaction, the company also announced that
Greg Back and Gayle Crowell of Warburg Pincus and Terry Cunningham have
joined the InfoGenesis Board of Directors.
InfoGenesis is the leading provider of technology solutions to the world�s top hospitality and foodservice operators. The company specializes in point-of-sale, reservation, and dining management solutions, serving customers who operate hotels, resorts, casinos, restaurants, cruise ships, attractions, and managed foodservice. The company�s enterprise-class software is well regarded as highly reliable, configurable, interoperable and extensible. For more information, visit www.infogenesis.com. About Warburg Pincus Warburg Pincus has been a leading private equity investor since 1971. The firm currently has approximately $13 billion under management, including $3 billion available for investment in a range of industries including application technologies and business services, information and communication technologies, media, healthcare, industrial markets, energy, and real estate. Warburg Pincus is an experienced partner to entrepreneurs seeking to create and build durable companies with sustainable value. The firm has an active portfolio of about 125 companies. For more information, visit www.warburgpincus.com. |
