Fourthshift

SoftBrands has a somewhat complicated history. Fourth Shift Corp was founded in 1984. In the UK the software was successfully installed by IDV Harlow and shortly after by J&B in Scotland. Fourth Shift Corp was acquired for $40m in cash in 2001 by AremisSoft, a public company that had already bought some hospitality software vendors. AremisSoft started to crumble amid class-action lawsuits and allegations of fraud later that year. SoftBrands came into being at the end of 2001 as a wholly owned AremisSoft subsidiary housing the manufacturing and hospitality products. AremisSoft filed for Chapter 11 bankruptcy protection in March 2002 and SoftBrands emerged as an independent entity after the reorganization. It raised $20m in external funding before going public in 2005. SoftBrands also made a number of purchases including Medallion, Infra Business Solutions and Hotel Information Systems.