Industry leader broadens its unified commerce solutions with online ordering acquisition
New Hartford, NY â€“ July 19, 2022 â€“ ParTech, Inc. (PAR), (NYSE: 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.
The MENU acquisition adds a robust online ordering component to PARâ€™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 MENUâ€“ including brands like dean & david, Vapianoâ€“ the acquisition will bring PARâ€™s expansive platform to new markets and add omnichannel ordering solutions to its U.S. clients.
â€œSince day one, our technology was purpose-built for restaurant brands to win back their customers, simplify management of digital channels and streamline ordering processes,â€ said MENUâ€™s co-founder and CPO and Marlon Koch. â€œWeâ€™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.â€
MENUâ€™s online ordering capabilities enhances PARâ€™s already integrated suite of SaaS solutions that includes Brink POSÂ® for front-of-house, Data CentralÂ® for back-office, PAR Pay and PAR Payment Services for payments, and PunchhÂ® 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 guestâ€™s experience.
To learn more about PARâ€™s industry-leading solutions, visit partech.com .
This press release contains â€œforward-looking statementsâ€ 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 Corporationâ€™s future operations, financial condition, business strategies and prospects. Forward-looking statements are generally identified by words such as â€œanticipateâ€, â€œbelieve,â€ â€œbelief,â€ â€œcontinue,â€ â€œcould,â€ â€œexpect,â€ â€œestimate,â€ â€œintend,â€ â€œmay,â€ â€œopportunity,â€ â€œplan,â€ â€œshould,â€ â€œwill,â€ â€œwould,â€ â€œwill likely result,â€ 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 PARâ€™s unified commerce, statements concerning the expected development, demand, performance, market share or competitive performance relating to PARâ€™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 PARâ€™s acquisition of MENU, including possible disruptions to PARâ€™s business and operational relationships and PARâ€™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 Corporationâ€™s Annual Report on Form 10-K for the year ended December 31, 2021, and PAR Technology Corporationâ€™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 Corporationâ€™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 PARâ€™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