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[September 26, 2011]
Hospitality Internet provider Superclick to be acquired by AT&T for $15 million
(Canadian Press DataFile Via Acquire Media NewsEdge) MONTREAL _ Hospitality Internet services provider Superclick Inc. (OTCBB:SPCK) has reached an agreement to be acquired by telecommunications giant AT&T for about $15 million.
The company, which also serves customers in the health-care industry and multiple dwelling units, like apartments and condos, said the cash transaction still requires shareholder approval.
"It is an honour to have received this offer from AT&T, known around the world for being a trusted business leader in their field," said Superclick chairman Todd Pitcher in a release.
"We are confident that this transaction will allow our business to continue to flourish and that our technology will see wide adoption across many applications." Superclick counts hotel chains like Fairmont, Four Seasons, Intercontinental and Marriott among its customers.
In the third quarter, the company's revenue increased 39.6 per cent from a year earlier to $3 million, with profits at $612,828.
The transaction with AT&T is expected to close in the fourth quarter.
(c) 2011 The Canadian Press
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