The acquisition will allow SALIDO to continue investing in the delivery of key technologies to restaurant partners in a critical time for the hospitality industry
NEW YORK–(BUSINESS WIRE)–Today, SALIDO, a leading hospitality technology provider, is announcing that it has been acquired by North American Bancard (NAB), one of the largest electronic payment processors in the United States.
Since the acquisition, SALIDO has operated in stealth mode, strengthening its product team, focusing on product development, and introducing many key features. These features include tableside mobile ordering, NFC contactless payments, and direct online ordering. Additionally, SALIDO has launched integrations like Oracle OPERA to support the evolving needs of SALIDO’s hospitality operators during this challenging time.
SALIDO’s Restaurant OS, an innovative, cloud-based restaurant operating system, will help establish NAB’s portfolio as a leader in the enterprise hospitality software industry. NAB will vertically integrate SALIDO’s Restaurant OS on top of their existing payments platform, EPX, to offer a single and powerful payment solution for all hospitality partners.
Founded in 2012, SALIDO’s eight years of successful growth were led by founder and CEO Shu Chowdhury, an engineer-turned-entrepreneur and hospitality-industry insider who worked carefully with NAB to facilitate the transition for both companies. SALIDO was created when Chowdhury saw an opportunity to reinvent antiquated restaurant point of sale and payments systems by changing both the in-store and above-store user experience for all operators.
SALIDO leverages design, data, and workflow management to optimize both front- and back-end operations. Single restaurant proprietors and large franchise chains alike utilize SALIDO’s enterprise-level solution to revamp traditional and outdated operational systems.
“In the face of the COVID-19 pandemic, the resilient women and men of the hospitality industry are adapting to survive in this unprecedented and difficult business landscape,” said Shu Chowdhury, founder and CEO of SALIDO. “We’re both humbled and lucky to support our amazing customers during this critical time. By placing SALIDO onto NAB’s payments and distribution platform, our team will focus solely on continuing to build best-in-class solutions for our hospitality partners with their success remaining our top priority.”
“SALIDO has gone to great lengths to incorporate our team’s feedback and ensure they can support EATALY’s complex hospitality technology needs,” said EATALY co-founder and CFO Adam Saper. “We have officially rolled out SALIDO to support all of our flagship stores across the United States and Canada and are looking forward to continuing our partnership.”
Following his transitional leadership role at SALIDO and NAB, Chowdhury will focus his efforts on the Bowery Engine, an early stage direct investment and incubation company that previously supported SALIDO. Chowdhury will continue to support SALIDO as a strategic advisor to NAB founder and CEO Marc Gardner.
Gardner stated, “We are delighted to announce the addition of the SALIDO team and their hospitality-focused product to the NAB family. We will continue investing heavily in expanding SALIDO’s core technology and evolving our Restaurant OS offerings. Our 3000+ Sales Partners are excited to begin SALIDO distribution on top of NAB’s EPX payments platform.”
The majority of SALIDO’s employees joined NAB following the acquisition to continue innovating the Restaurant OS. SALIDO continues to execute on its hiring plans to recruit and invest in talent across their Product, Engineering, Customer Experience, and Sales Teams.
SALIDO has been backed by hospitality operators including Phil Suarez, Top Chef Tom Colicchio and Stephen Starr as well as financial investors including FirstData Ventures, 500 StartUps, Accelerator Ventures, 3KVC and Great Oaks VC. SALIDO’s Restaurant OS has been adopted by top US-based and international hospitality operators, such as Eataly, Restoration Hardware, Eleven Madison Park, Laconda Verde, and Jean-George’s ABC Kitchen. NAB will operate SALIDO’s installations in New York, Chicago, Detroit, Boston, Philadelphia, Nashville, Baltimore, San Francisco, Los Angeles, Miami, Austin, Charleston, Toronto, and London.
About SALIDO
SALIDO, founded in 2012, has re-invented restaurant management through their innovative Restaurant Operating System (Restaurant OS) product and partnerships with top restaurant operators. They deliver state-of-the-art user interface design, operational workflows, and restaurant operator-specific solutions across point of sale, online ordering, tableside ordering, reporting, NFC contactless payments, and an open API. For more details, please visit www.salido.com.
About North American Bancard
North American Bancard is re-imagining the payment experience. As a leading payment technology innovator, NAB has a diversified product platform that provides a modern end-to-end infrastructure to enable globally preferred payment types. NAB’s superior solutions deliver seamless payment experiences in mobile, online, and in-store environments. Serving hundreds of thousands of businesses and processing in excess of $45 billion in electronic payments annually, NAB delivers functional and frictionless solutions for our evolving merchant economy. For more information, please visit www.northamericanbancard.com.
Contacts
SALIDO/North American Bancard Media:
Jereme Sanborn
North American Bancard
jsanborn@nabancard.com
866-485-8999×9635
Shu Chowdhury/Bowery Engine Media:
Kelly Subin
The 5th Column
kelly@the5thecolumnpr.com
516-476-7972
