Adaco Inc. is being acquired by Fourth Hospitality, a London company whose software is used by the hotel and food service industries, from managing payroll to creating recipes and menus.
The companies did not state financial terms. Fourth said it will maintain Adaco’s Norwalk headquarters as its main U.S. office.
Adaco similarly provides food and beverage purchasing and inventory-control software for the hotel sector, with its 400 customers including Stamford-based Starwood Hotels and Resorts Worldwide Inc. In 2009, it said its customers purchased $5 billion on an annual basis using its software, representing a 60 percent increase over a three-year period.
Fourth’s client base likewise includes Starwood as well as Milford-based Subway.
Adaco adds nearly 50 employees to Fourth, giving the combined company about 250 people in all and annual revenue of $36 million.
“Fourth’s acquisition enables us to extend our global reach as part of a large, well-funded and ambitious organization,” said Sunil Reddy, president of Adaco, in a prepared statement.
