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Tech Firm to Use $200MM to Offer Equipment Financing for Hoteliers

June 19, 2018, 07:22 AM
Filed Under: Industry News

Global hospitality technology provider Exceptional Innovation (EI) has secured a $75 million capital investment for the business. It will use this equity investment to pay off acquisition debt and provide on-going operating capital.

In addition to the equity investment EI has arranged an additional $200 million working capital facility for customer equipment financing, system upgrades, new solutions purchases and future acquisitions.  EI will provide to clients a complete package of services to leverage the global capability of its investment partner’s interests in satellite and fiber network assets, a substantial TV and video content library, a location-based advertising platform and a U.S. TV broadcast license.

The combination of global connectivity, additional content, targeted advertising and the cost-effective iQx platform to deliver high speed internet access solutions and in-room entertainment content and solutions will enhance the group’s offering to the hospitality industry.     

EI Group entities, SmarTV, Quadriga and interTouch managed services businesses, will now collectively operate globally under the universal brand name of interTouch Quadriga (iQ) to emphasize continuity and investment protection together with technology innovation. The companies will remain intact and at the forefront of their respective markets, the management structure will not change, and the divisions will continue to own and manage their intellectual property assets. Nomadix, Inc. will continue to operate as a separate entity but as an important supplier to interTouch Quadriga.

“Three years ago, we pulled SmarTV, Quadriga, interTouch and Nomadix together under the E.I. Group umbrella with a singular vision to bring together the industry’s first truly global source for critical guest-facing technologies,” CEO Seale Moorer said.

“Now, with this capital injection and the additional capex financing and the access to additional services from our global investment partner in place, we can now accelerate the roll-out of our technology platform and integrated solutions to bring the market increased choice and superior solutions from one global hospitality industry provider,” Moorer added.

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