A Boise software company will merge with a New York-based company and pick up a $100-million investment from a private equity firm.
Meal Ticket of Boise and MarketMan of New York will combine and bring their two platforms aimed at the food service industry together. Meal Ticket launched in 2011 and provides “a suite of operational tools and solutions for businesses across the supply chain,” according to a spokesperson. MarketMan owns a cloud-based inventory tracking system for restaurants.
Equity firm PSG will chip in the $100-million with an aim to “enable more automated, efficient interactions between distributors and restaurants.” The existing MarketMan and Meal Ticket platforms will continue to operate and the companies aid they hope to launch new products with their combined expertise in the future.
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“Meal Ticket and MarketMan are natural complements to each other’s businesses,” Meal Ticket CEO Wink Jones said. “Meal Ticket analyzes over $40 billion in supply chain transactions from its food distributor customers, while MarketMan has a significant footprint of over 7,000 paying restaurant locations around the globe buying from thousands of distributors.
Jones is a Boise State graduate who went on to lead a series of firms. He founded Meal Ticket with Brian Konrath, a University of Idaho graduate who also founded Blackfin Technology.
Meal Ticket previously acquired Trackmax, in a deal also backed by PSG.
PSG has a portfolio with scores of tech companies, most of which aren’t well-known brands, and is a prior investor in Meal Ticket. The companies did not outline the combined value of the newly-merged company.
