Pegasus Sells PMS Business
OCTOBER 24, 2005. MSI has signed an agreement to buy Pegasus' PMS business, which has both chain and independent hotel customers including a number of Best Western properties.
Pegasus will continue to operate its PMS business and to provide support to its PMS customers until the purchase by MSI has been completed. The terms of the transaction were not disclosed. Any gain or loss in connection with the transaction is not expected to be material to the operations of the company and will be recorded in discontinued operations.
Pegasus continues to review opportunities regarding the sale of its PegasusCentral property management system.
John F. Davis III, chairman and CEO of Pegasus, said: "MSI is a great choice because it is a respected PMS supplier in the hotel industry, and the team there already has great experience working with Best Western International. We're committed to working with MSI toward a smooth transition."
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