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Syrve to takeover iiko international operations

10 October, 2022 |   | 
Syrve - takeover-iiko- international

Syrve to takeover iiko international operations: 4,900+ customers and partners in 33 countries

iiko Group is in the process of divesting its international business operations to a newly established independent entity, Syrve.

Syrve has been established to manage the divestment of iiko international operations and ensure a smooth transition for 4,900+ customers and partner relationships in 33 countries.

The emergence of Syrve was preceded by the decision of the iiko Group board to separate its Russian operations and release its international shareholdings and controlling interests, as well as the former operating team in Northern Europe, Central Europe and UAE, to focus on forward growth opportunities.

Transition Plan – Transferring of International Operations

Syrve will take ownership of a large international presence with regional hubs of excellence:

  • All iiko staff located in UK, Italy, and Dubai offices will transition to Syrve
  • A new HQ is being established in UAE
  • Syrve will take over hosting operations in Central European data centres
  • A centralised R&D and Tech Support organisation has been setup in Armenia 
  • Syrve will obtain contractual IP rights over iiko software to support existing customers, while developing its own IP to deliver SaaS solutions that fit local requirements and business models
  • The technology and contracts will operate as before and Syrve will honour Terms of Service and software pricing, ensuring continuity of service.
  • Syrve will deliver the same level of product, service, and quality that customers receive today and continuously look for ways to improve

Completion of the transition period is targeted for: 01 September 2022.

Growth Acceleration Plan 

Syrve will build on the strong Y2021 financial and operational performance iiko achieved:

  • Live stores: +46% 
  • Software available in 33 countries 
  • 25 new releases
  • 650 new useful tools for customers
  • Industry-beating standards for tech support: Average response time 1.56 mins. Average close time 82.77 mins

Syrve’s dedicated focus on international territories will enable growth expansion:

  • Research & Development: Syrve will provide dedicated research and development (R&D) for local markets, thereby enabling it to speed up cycles and response for customers. Also, Syrve will be able to forge new partnerships with local technology-service companies
  • Attracting Talent: Syrve’s operations are in regions that can attract professionals focused on emerging technologies and experimenting with new processes being adopted by the hospitality industry. The regional sales and service hubs being taken over by Syrve have already jump-started efforts to build a distinct culture fit for international markets and become disrupters in the industry
  • Operational Efficiencies: Syrve will use this opportunity to bolster its operations, for instance digitising processes and expanding staff in core areas. It will also look to improve, centralise, and simplify the operating structures of business units across international territories

The New Company – Syrve: Success Built-in

Syrve’s mission is to create remarkable, trusted tech that enables hospitality businesses to cut through the grind of the everyday and build a strong business advantage.

Syrve introduces modern solutions to long-standing challenges that are simpler, easier, and smarter than ever before, to give customers the tools they need to operate with confidence.

Syrve has a vision. We see a future where customers enjoy a truly incredible experience and can focus more on what they do best.

No matter where they are. Or how they operate. For this vision to become a reality, we need to break down silos, bringing front of house, back of house, and back-office operations together to achieve a common goal.

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Alex Ponomarev

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