The CBORD Group Acquires Webfood, Inc.

The CBORD Group, Inc., a leading provider of campus card, cashless, and foodservice management systems for the College & University, Corporate, and Healthcare markets, announced it has signed an agreement to acquire privately held Webfood, Inc.

Webfood, Inc. became the first system of its kind designed for and marketed towards the institutional food service industry. The company’s flagship product, Webfood Online Ordering Service, was launched in March of 2002 at Cornell University.

The Webfood Online Ordering Service is an Internet-based dining application designed to improve the service quality, efficiency and ultimately the profitability of food service operations. The Webfood service accepts orders from customers via a web-based interface, transmits those orders directly to cooks for preparation, and allows dining managers to monitor this process or update menus as necessary.

Bruce Lane, CBORD Partner and Vice President, commented, "By bringing the Webfood Online Ordering Service under the CBORD product umbrella, CBORD is able to offer existing and potential clients an even greater convenience for their dining customers. We hope to eventually offer interfaces between Webfood and other campus card systems as well."

As part of the acquisition of Webfood, Inc., some of the company’s founders have accepted positions at The CBORD Group and will continue to work with the Webfood product as well as other CBORD products.

Peter Leonard Krebs, Webfood CEO, said "We are excited about the combination of our company, Webfood, Inc. with The CBORD Group, Inc. When we began the development of the Webfood Online Ordering Service, it was because as students of Cornell University, we were tired of waiting in long lines at grill and sandwich operations. The concept of online ordering immediately drew attention from the Director of Cornell’s Dining Services and quickly became popular with student consumers."