Xn Hotel Division & Xn Plc

Wednesday 06 December 2006

The sale and transfer of the hotel business and related business entities, Xn Australia Pty Limited, Xn Corporation Africa Ltd, Xn Corporation Inc, together with the Xn Malaysia business, Digital Streams divisions and Leisure business units including 65 employees, was announced publicly yesterday.


The new founders of the privatised business are Ed Dayan, (former group founder of Checkout and XN Checkout) and Mark Pearman (Group CEO), both former board members of Torex Retail Plc. Both Ed and Mark bring superb senior management experience and also a deep knowledge of the business history, providing the new group both the continuity and also the direction for the future growth of these businesses. Other members of the existing divisional management teams remain passionate about and deeply committed to the future of the business and the hotel division.


“I am delighted to advise the completion of the sale and transfer of the XN hotel division, from Torex Retail Plc to a new group entity to be known as "XN plc". It is our belief that this new structure represents the best way forward to achieve the focus, growth and ultimately greater market success of the hotel division and other businesses in the new group” said Mark Pearman, Group CEO.


We will be adopting the divisional name "XN Hotel Systems Limited" as the UK company entity into which the UK hotel business including staff will transfer. Xn Australia Pty Limited has been acquired as an entity, as has Xn Corporation Inc, service provider of Xn GlobalRES GDS and Web Booking services. 


Other group business units, including the Xn Corporation Africa, (developers of Xn Interactive Entertainment System), Xn Leisure and the Xn Digital Streams media signage businesses will operate as subsidiaries of the same group parent company, Xn plc, and will be very synergistic to the hotel business unit. A growing presence in Asia and entry into the USA will also be announced in 2007.


All product-lines, including the distribution rights to Protel in United Kingdom and Asia-Pacific have been secured as have the rights and/or distribution of other existing product-lines including XN GlobalRES, XN dotPOS and LeisurePoint. This approach ensures full and complete continuity of all products for all XN Hotel division clients across the world.


Strong client partnerships, an effective service culture and a world class hotel technology product-line, remain the bedrock of this division. It is our vision that new and current products and services will continue to improve and evolve, underpinning our continued growth as a service provider, appropriately described by a new motto
“Xn - delivering service through technology”™