PAR Technology has sold off its hospitality IT division Springer-Miller for $16.6 million to Constellation Software.
Springer-Miller will operate under the Jonas Group of companies within Constellation following completion of the deal.
The company provides property management systems to hotels and resorts - in particular, a guest experience platform and an activities service for high-end properties that have ancillary services such as fitness and spa facilities.
PAR will continue to build point-of-sale IT for restaurants and other hospitality providers.
Vermont, US-based Springer-Miller was founded in 1984.
President and CEO, Larry Hall, will hand over the reins to Jonas Group CEO Barry Symons after a transition period, the pair said in a statement. All existing Springer-Miller employees will be moving with the company.
Hall says:
"The global hospitality technology industry continues to adjust to a number of recent mergers and acquisitions, as well as the expanding role of technology in every aspect of the guest value chain.
"Joining the Constellation family of companies provides Springer‐Miller Systems with a platform for accelerated growth, expansion of its global footprint, additional product offerings, and a continued commitment to customer service."