PAR Technology has acquired TASK Group and Stuzo Holdings to expand its unified commerce software offering.
These acquisitions will expand the global food service technology company's services to convenience stores, fuel retail outlets and international markets, PAR Technology said in a press release on Monday (March 11).
According to a release, the company has entered into an agreement to acquire TASK Group, an Australian global foodservice trading platform designed for leading brands around the world. The transaction is expected to close in the third quarter, subject to regulatory approvals and customary closing conditions.
“TASK not only expands our reach outside of the United States and has a strong cash flow profile, but also brings a leading global brand to the PAR umbrella with the potential to accelerate our future growth. ” said Savneet Singh, CEO of PAR Technology. release.
Additionally, PAR Technology has completed the acquisition of Stuzo Holdings, which provides digital engagement software to convenience and fuel retailers, the release states. This acquisition expands PAR Technology's footprint to 25,000 convenience store sites.
In both transactions, PAR Technology acquired products with a rich customer base, cross-sell opportunities and addressable markets, according to the release.
“Today is a monumental day for us at PAR. We are expanding our operations around the world and strengthening our product and service offerings for the broader food service and fuel retail industry,” said Singh. stated in the release.
For restaurants, PAR Technology aims to help these clients implement “unified commerce” solutions that combine all feeds into one flow that is highly efficient and easy to tune for performance. , Singh told PYMNTS' Karen Webster in a posted interview. In August 2022.
“The system has to be smart enough to say, “Let's turn off Uber and DoorDash,'' or “Let's send a message saying we ordered in the app. Expect the order to take 90 minutes.'' So you probably shouldn't order it now,'' Singh said. “The ability to slot orders, adjust orders, dynamically manage the kitchen, all of these things need to come together.”
In previous transactions, PAR Technology announced in August 2022 that it acquired MENU Technologies, an omnichannel ordering solution for international restaurant brands, to complement its suite of unified commerce solutions.
