Vermont Based Management Team Acquires Inntopia’s Physical Assets And Intellectual Property From Par

22nd Jun 2001

Sterling Valley Systems, Inc., a corporation formed this month by a group of former employees, announced today that it has acquired the physical assets and intellectual property associated with the travel technology platform from San Francisco-based Unexplored, Inc. Unexplored acquired, Inc. in December of 1999.
The agreement will return the inntopia network to its founders and certain key managers. The same management group successfully operated the inntopia division under Unexplored’s ownership. With booking numbers on the rise, feature enhancements installed, and a slimmed down operating staff, the new company expects profitability by the end of the summer.
Trevor Crist, co-founder of the former, Inc. and president of Sterling Valley Systems, Inc., exclaimed “It is extremely encouraging that not only do we have the support of a great team of Stowe-based employees, but also that some of our customers have offered to invest in our new company. I have always believed in the Inntopia product and I think the overwhelming support of both our employees and customers shows our emphatic commitment to the business, as well as our staying power in this industry.”
Sterling Valley Systems will continue to support inntopia’s current client base and build upon the current technology to continue offering industry leading online reservations solutions. Under the terms of the agreement, Sterling Valley Systems acquired inntopia-related intellectual property, including all rights to the inntopia technology platform, name, and customer list, as well as certain key physical assets.
Unexplored, Inc. sold the inntopia assets to Sterling Valley Systems, Inc. in order to continue its focus on enterprise software applications. The terms of the transaction were not disclosed.


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