PAR Technology Acquires Digital Ordering Company MENU Technologies to Expand its Unified Commerce Offerings

Rhea-AI Summary

PAR Technology Corporation (PAR) announced its acquisition of MENU Technologies AG, enhancing its unified commerce solutions for enterprise restaurants. This acquisition integrates online ordering capabilities into PAR's existing suite, allowing restaurants to streamline their operations. MENU, a prominent omnichannel ordering solution, shares customers with PAR, further expanding PAR's platform. The collaboration aims to improve customer experiences by consolidating ordering processes and providing a data-driven network from order to fulfillment.

Positive

• Acquisition of MENU Technologies adds online ordering to PAR's unified commerce solutions.
• Shared customer base strengthens market position and enhances offerings.
• Opportunity to expand into new markets and enhance customer experience.

Negative

• Potential integration challenges may disrupt existing operations.
• Achievement of anticipated synergies is uncertain, posing business risks.

Industry leader broadens its unified commerce solutions with online ordering acquisition

NEW HARTFORD, N.Y.--(BUSINESS WIRE)-- 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.

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

Source: ParTech, Inc.

FAQ

What is the significance of PAR's acquisition of MENU Technologies?

The acquisition enhances PAR's unified commerce solutions, integrating online ordering to streamline restaurant operations.

How will the MENU acquisition impact PAR Technology Corporation's market position?

It will strengthen PAR's offerings and expand its market reach by leveraging a shared customer base.

What are the expected benefits of the MENU acquisition for enterprise restaurants?

Restaurants can expect improved operational efficiency and a better customer experience from a unified ordering system.

What challenges may arise from the MENU Technologies acquisition?

Potential integration issues and the uncertainty of achieving anticipated synergies could pose risks to PAR's operations.