Why did SIVA buy Progressive?
Progressive has a twenty-year track record of creating successful technology solutions for the restaurant industry. The company has excellent relationships with its customers, who include some of the biggest brands in the quick service and table service segments— Starbucks, Jack in the Box, Steak n Shake, Denny's, Golden Corral, Krispy Kreme, and more. And Progressive has an extensive, mature product line, including two point-of-sale applications, which will increase our potential markets.

The combined company will represent more than 13,000 installations, immediately making it the third largest POS vendor to the U.S. restaurant industry in terms of installed customer base. In addition, it will be the only major vendor in the restaurant segment to offer a next generation product as well as Windows and DOS lines. The ability to provide a migration path to a next generation application, whether to existing or potential customers, will be a compelling differentiator for the new, post-acquisition SIVA. back

Will there be layoffs because of the acquisition?
No. Our goal is to achieve a smooth integration of Progressive and SIVA, without disruption to employees and customers. We anticipate that all current positions will still be essential going forward.

The combined company will be reorganized into a single, unified entity. A link to the merged organizational chart is available from this page. back

When will I know the details of my SIVA job—benefits, employment policies, etc.?
We will not be able to provide Progressive employees with SIVA offer letters and detailed benefit packages until the acquisition closes, which we anticipate will be before mid-August. Until that time, current Progressive benefits, policies and procedures remain in effect. back

Where do I turn in a timesheet, expense report, vacation request, etc.?
Continue to use current forms and follow existing procedures until the deal is done. At that time, we will post policies, processes and forms for the combined company on this web site. back

What will happen to the Progressive management team?
Progressive CEO Christopher Sebes will join SIVA as Chief Operating Officer. Please refer to the organizational chart for additional information. back

What about Progressive's offices?
The Charlotte office will remain open. Progressive's primary and customer support telephone numbers will remain unchanged. Web site URLs and e-mail addresses will be redirected to SIVA web and email addresses for an extended transition period. back

Will Progressive continue to use its name?
No. As a single organization, the company will be represented by the SIVA name. back

Will Progressive products continue to be sold?
Absolutely. The Progressive software is one of the assets SIVA wanted to acquire. By including three point-of-sale applications (SMART, IRIS, and iSIVA) in our offerings, SIVA will be able to meet the needs of mainstream and legacy buyers as well as technology early adopters, greatly increasing the size of our potential market. Premium products that extend the POS solution such as eSign, eRewards, and Visual Dashboard will be of interest to iSIVA customers as well as IRIS and SMART users. back

What does the acquisition mean for Progressive customers?
With the help of the current customer-facing Progressive employees, SIVA will continue to provide existing Progressive customers with the high quality products and service that they have come to expect.

Current Progressive customers will be able to migrate to the next generation iSIVA technology suite if/when they chose to do so. Migration will not be required and no products are targeted for end-of-life. back

What does the acquisition mean for SIVA customers?
Current SIVA customers will benefit from an extended product offering and increased company resources in the area of support and development. back

How did Progressive and SIVA customers react to the acquisition?
We are not an authorized spokesperson for any of our customers and cannot speak specifically on their behalf. However, the acquisition has been discussed with each of them individually and the news was well received. back

What does the acquisition mean for Progressive and SIVA resellers?
Our objective is a smooth continuation of our established relationships with existing resellers. To that end, we are committed to honoring current agreements, including exclusive territories for Progressive and SIVA products. Those dealers interested in representing the full range of the company’s combined solutions will be given the opportunity to be certified to do so where it does not cause channel conflict. back

What was the purchase price?
The terms of the acquisition will not be disclosed. back

Was Progressive bankrupt?
No. However, it was in the best interest of Progressive's customers and employees for the company to be acquired and the products and employees to be merged into a new, stronger company. SIVA is backed by a group of investors who believe in the company's strong potential and are actively involved in supporting its growth and success. back

What should I tell customers/partners/resellers/vendors about the acquisition?
A comprehensive contact plan covering customers, resellers and other company relationships was initiated on July 19th so many of the outside people you work with will have already heard our news. If you do need to answer someone's questions, please refer to the Public Statement for External Use for your talking points. back

What should I tell the media about the acquisition?
Absolutely nothing. There is only one authorized spokesperson for the combined company—Jim Melvin. If you should receive a call from the press, please transfer it to him at 561.272.2121 or our public relations counselor—Ann Dickerson at JohnstonWells, 303.623.3366. Let Julie Grosse know about the call so that she can track and coordinate follow-up as necessary. back