Alpine Investors’ ASG Acquires Visual Matrix, Adding a Third Market Leading Hospitality Software to Its Portfolio

January 26, 2021

RICHARDSON, Texas. & WALNUT CREEK, Calif. – January 26, 2021 – ASG, a portfolio company of Alpine Investors that buys, builds and operates vertical SaaS companies, today announced that it has acquired Visual Matrix, an industry leading hotel property management software providing an all in one PMS with revenue management, channel management, and operational tools to maximize hotel profitability and efficiency. 

This deal marks the 31st acquisition for ASG and the 3rd in the ASG Hospitality Technology vertical. Visual Matrix joins Transcendent, acquired in 2019, and ProfitSword, acquired in 2020. David Awad, Founder of Visual Matrix, will transition out of the business while the team welcomes Georgine Muntz as Executive Chair and CEO.  

“We are thrilled to have Visual Matrix joining ASG at this critical time,” says Georgine Muntz, Executive Chair and CEO of Visual Matrix. “Now, more than ever, hoteliers need a fully functional system that helps them optimize every resource in their business. The amount of experience on this team, combined with partnership from ASG, will make this next phase of the Visual Matrix journey one that will expand our ability to serve and delight our customers.” 

Headquartered in Richardson, TX, Visual Matrix was founded in 2000 by David Awad. After gaining over ten years of experience in the industry, David felt the market was lacking a feature rich PMS at an affordable price. After many late nights testing and developing, they launched their first customer in 2003. Today, Visual Matrix has grown from a simple desktop app to now offering a fully functional platform including a cloud version, and features like guest texting with automated triggers, a housekeeping mobile app with time tracking, and a patent pending VM™ Revenue Management Live!. Visual Matrix has grown to over 40 employees with an installation base in over 2,000 properties across 30 countries.  

“Joining ASG’s hospitality portfolio will provide a tremendous benefit to our client base by integrating products from sister companies. Integration will expand the feature set to include corporate accounting, reporting, analytics, business intelligence and asset management to mention a few,” says David Awad, Founder of Visual Matrix. 

About Visual Matrix 
Since its inception in 2000, Visual Matrix has served the global hospitality industry as a pioneer in advanced hotel property management technology. More than just a full-featured front desk solution, the Visual Matrix all-in-one PMS also provides hoteliers with the ability to maximize profits using a comprehensive revenue analysis platform that is built directly into the PMS. Visual Matrix provides staff with an intuitive user-friendly interface and is available as either a desktop or fully cloud-based solution to suit the unique needs of any hotel business. Based in Richardson, TX, Visual Matrix is the leading PMS supplier to Best Western Hotels & Resorts and currently serves over 2,000 properties across 30 countries. For more details, please visit 

About ASG 
ASG, backed by Alpine Investors, is a unique and fast-growing software business that buys, builds, and operates market-leading vertical SaaS companies. ASG believes deeply in the power of people and data to grow great organizations, and that sharing knowledge, expertise, and resources across its community of businesses drives exponential growth. Founders of leading SaaS companies continue to trust ASG to grow their businesses and build even stronger legacies for the future. 

About Alpine Investors 
Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in middle-market companies in the software and services industries. Its PeopleFirst strategy includes a CEO-in-Residence program where Alpine partners with CEOs first and places them into companies as part of the transaction. This provides a distinct solution for situations where additional or new management is desired post-transaction. For more information, visit        


Media Inquiries, contact: 
Andrea Mane 
Plan A PR & Marketing, Inc. 

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