Software Answers acquired by Banyan Software
June 14, 2024
Banyan Software, a leading acquirer and permanent home for great software businesses, is excited to announce the acquisition of Software Answers. Software Answers' flagship product, Oscar, provides a centralized solution for property management tasks and financial reporting, serving corporate housing, serviced apartment, and apart-hotel businesses.
Software Answers was founded in 1995, and the Oscar solution was developed to manage a regional corporate housing business in Central Florida. Subsequently, Oscar was quickly adopted in the industry due to its specialized corporate housing functionality and its enterprise-level accounting functions, which was unavailable in existing off-the-shelf property management and accounting systems. Today, the company's property management software is the market leader in corporate housing in the United States, and their reputation as the best-in-class solution has driven long-term customer relationships with the industry's largest providers.
Banyan is happy to announce that long standing employee, Chris Couture, will serve as the company's CEO post-closing.
"We are excited that Software Answers has chosen Banyan as its forever home. It is important to us that our businesses have demonstrated success, and Software Answers' market-leading position and long-tenured customer base caught our attention. The company's strategic initiatives are propelling them towards rapid growth and groundbreaking advancements in the industry and we are thrilled to be a part of it."
- Arun Srinivasan, Operating Partner at Banyan Software
"At Software Answers, we are dedicated to improving the operations and accounting processes for property management businesses. It was important to us that our team maintained its control of day-to-day operations post-acquisition. With Banyan Software and the over 50 operating companies they serve, we are uniquely positioned to unlock the expertise and resources needed to grow and advance our business to the next level."
- Chris Couture, CEO of Software Answers
About Software Answers
Software Answers provides a centralized solution for property management tasks and financial reporting, serving Corporate Housing, Serviced Apartment, and Apart-Hotel businesses. The software's key differentiating feature is a comprehensive accounting suite, which is supplemented by real-time reporting, interactive scheduling, multi-currency invoicing, payments processing and a variety of additional modules. The solution is high-touch and critical to customers' daily execution of their operations. For more information, please visit: softwareanswers.com
About Banyan Software, Inc.
Banyan Software provides the best permanent home for successful enterprise software companies, their employees, and customers. With a permanent capital base set up to preserve the legacy of founders, Banyan focuses on a buy and hold for life strategy for growing software companies. Founded in 2016, Banyan is backed by a world-class group of CEOs and investors with deep technology experience and currently operates across a growing number of verticals. For more information, please visit: banyansoftware.com.Media contacts
Christopher P Couture, CEO
Software Answers Inc
Winter Garden, Florida, USA
Tel: (407) 382-8800
Email: chris@softwareansweres.com