Industry leader broadens its unified commerce
solutions with online ordering acquisition
ParTech, Inc. (PAR), a global restaurant technology company and
provider of unified commerce for enterprise restaurants, today
announced the acquisition of MENU Technologies AG (MENU), a fast
growing, omnichannel ordering solution for international restaurant
brands.
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the full release here:
https://www.businesswire.com/news/home/20220809005354/en/
The MENU acquisition adds a robust online ordering component to
PAR’s suite of unified commerce solutions that maximize business
performance for PAR customers, better positioning the organization
as one of the first unified commerce solutions for enterprise
restaurants.
"Today, restaurants are overwhelmed with disparate technologies
that are devoid of the connectivity or intelligence that a unified
solution offers," said CEO & President of PAR Technology
Corporation, Savneet Singh. "The acquisition of MENU allows PAR to
consolidate a restaurant's off-premise and on-premise orders into
one unified techstack. Restaurants will now have a unified,
data-driven network from the point of order to the kitchen, and all
the way through fulfillment, allowing their teams to focus on
delivering a better guest experience, instead of wasting time on
vendor management."
Headquartered in Zug, Switzerland, MENU Technologies is one of
the fastest-growing, modern, omnichannel ordering solutions for
restaurant brands. With a core base of shared customers between PAR
and MENU– including brands like dean & david, Vapiano– the
acquisition will bring PAR’s expansive platform to new markets and
add omnichannel ordering solutions to its U.S. clients.
“Since day one, our technology was purpose-built for restaurant
brands to win back their customers, simplify management of digital
channels and streamline ordering processes,” said MENU’s co-founder
and CPO and Marlon Koch. “We’re excited about joining forces with
PAR to accelerate our vision and become part of a unified solution
that is truly revolutionizing restaurant technology and supporting
enterprise brands across continents.”
MENU’s online ordering capabilities enhances PAR’s already
integrated suite of SaaS solutions that includes Brink POS® for
front-of-house, Data Central® for back-office, PAR Pay and PAR
Payment Services for payments, and Punchh® for customer loyalty and
engagement. With the acquisition, PAR solidifies itself as a leader
for unified commerce that streamlines the back-of-house and
front-of-house operations to maximize each guest’s experience.
To learn more about PAR’s industry-leading solutions, visit
partech.com.
This press release contains “forward-looking statements” within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, Section 27A of the Securities Act of 1933, as amended,
and the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are not historical in nature, but rather
are predictive of PAR Technology Corporation’s future operations,
financial condition, business strategies and prospects.
Forward-looking statements are generally identified by words such
as “anticipate”, “believe,” “belief,” “continue,” “could,”
“expect,” “estimate,” “intend,” “may,” “opportunity,” “plan,”
“should,” “will,” “would,” “will likely result,” and similar
expressions. Forward-looking statements are based on current
expectations and assumptions as to future occurrences and trends,
including statements expressing optimism about future operating
results and business strategies, including PAR’s unified commerce,
statements concerning the expected development, demand,
performance, market share or competitive performance relating to
PAR’s products or services, that are subject to risks and
uncertainties, which could cause actual results to differ
materially from those expressed in, or implied by, the
forward-looking statements, including potential business
uncertainties relating to PAR’s acquisition of MENU, including
possible disruptions to PAR’s business and operational
relationships and PAR’s ability to achieve anticipated synergies,
and the anticipated costs, timing, and complexity of integration.
Factors that could cause or contribute to such differences include,
but are not limited to, those discussed in PAR Technology
Corporation’s Annual Report on Form 10-K for the year ended
December 31, 2021, and PAR Technology Corporation’s other filings
with the Securities and Exchange Commission. PAR Technology
Corporation undertakes no obligation to update or revise publicly
any forward-looking statements, whether as a result of new
information, future events, or otherwise, except as may be required
under applicable securities law.
About MENU Technologies MENU is a market-leading
eCommerce platform for global restaurant brands, powering all
digital customer touchpoints from mobile, web, kiosk to delivery
marketplaces. We provide restaurant brands with the tools they need
to grow their digital business, manage orders from all channels and
for all order types, orchestrate their delivery operations, and
fully control their digital experience to retain a direct customer
relationship. With over 100 technology partner integrations, the
MENU platform powers digital experiences for some of the largest
restaurant brands worldwide. Learn more at https://Menu.app
About PAR Technology Corporation For more than 40 years,
PAR Technology Corporation’s (NYSE Symbol: PAR) cutting-edge
products and services have helped bold and passionate restaurant
brands build lasting guest relationships. We are the partner
enterprise restaurants rely on when they need to serve amazing
moments from open to close, during the most hectic rush hours, and
when the world forces them to adapt and overcome. More than 100,000
restaurants in more than 110 countries use PAR’s restaurant
point-of-sale, loyalty, and back-office software solutions as well
as industry leading hardware and drive-thru offerings. To learn
more, visit www.partech.com or connect with us on LinkedIn,
Twitter, Facebook, and Instagram.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220809005354/en/
Christopher R. Byrnes (315) 743-8376 chris_byrnes@partech.com,
www.partech.com
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