PAR Technology Corporation Announces Closing of Acquisition of TASK Group Holdings Limited
PAR Technology (NYSE: PAR) has closed its acquisition of TASK Group Holdings , an Australia-based global foodservice transaction platform. The deal, valued at approximately U.S. $131.5 million in cash and 2,163,393 shares of PAR Technology common stock, broadens PAR's reach beyond the United States and brings in additional premier global brands.
TASK provides international unified commerce solutions, including interactive customer engagement and seamless integration, for major brands worldwide. Its platform is used by Starbucks and Guzman Y Gomez, while its loyalty customer engagement platform is utilized by McDonald's in 65 markets. This acquisition enables PAR to serve top enterprise foodservice brands globally with a unified commerce approach from front-of-house to back-of-house operations.
PAR Technology (NYSE: PAR) ha completato l'acquisizione di TASK Group Holdings, una piattaforma globale di transazioni per il servizio di ristorazione con sede in Australia. L'accordo, valutato circa 131,5 milioni di dollari in contanti e 2.163.393 azioni ordinarie di PAR Technology, espande la portata di PAR al di là degli Stati Uniti e introduce nuovi prestigiosi marchi globali.
TASK fornisce soluzioni di commerce unificato a livello internazionale, inclusi l'engagement interattivo dei clienti e un'integrazione senza soluzione di continuità, per grandi marchi in tutto il mondo. La sua piattaforma è utilizzata da Starbucks e Guzman Y Gomez, mentre la sua piattaforma di engagement per i clienti fedeli è utilizzata da McDonald's in 65 mercati. Questa acquisizione consente a PAR di servire i principali marchi di foodservice a livello globale con un approccio di commerce unificato che copre sia le operazioni di front-of-house che di back-of-house.
PAR Technology (NYSE: PAR) ha cerrado la adquisición de TASK Group Holdings, una plataforma global de transacciones de servicios de alimentos con sede en Australia. El acuerdo, valorado en aproximadamente 131.5 millones de dólares en efectivo y 2,163,393 acciones ordinarias de PAR Technology, amplía el alcance de PAR más allá de los Estados Unidos e incorpora marcas globales de primer nivel.
TASK ofrece soluciones de comercio unificado a nivel internacional, incluyendo engage interativo con el cliente e integración sin problemas, para grandes marcas en todo el mundo. Su plataforma es utilizada por Starbucks y Guzman Y Gomez, mientras que su plataforma de engagement para clientes leales es aprovechada por McDonald's en 65 mercados. Esta adquisición permite a PAR atender a las principales marcas de servicios de alimentos a nivel global con un enfoque de comercio unificado desde las operaciones de front-of-house hasta back-of-house.
PAR Technology (NYSE: PAR)는 호주에 본사를 둔 TASK Group Holdings의 인수를 완료했습니다. 이 거래는 총 1억 3,150만 달러와 2,163,393주의 PAR Technology 보통주로 평가됩니다. 이로 인해 PAR는 미국을 넘어 더 넓은 시장으로 진출하게 되었으며, 프리미엄 글로벌 브랜드를 추가하게 되었습니다.
TASK는 세계적으로 주요 브랜드를 위한 인터랙티브 고객 참여와 매끄러운 통합을 포함한 국제 통합 상거래 솔루션을 제공합니다. 이 플랫폼은 Starbucks와 Guzman Y Gomez에 의해 사용되며, 로열티 고객 참여 플랫폼은 65개 시장의 McDonald's에 활용되고 있습니다. 이번 인수로 PAR는 전반적인 운영에서 프론트오브하우스(front-of-house)부터 백오브하우스(back-of-house)까지 통합 상거래 접근 방식을 통해 세계의 주요 기업 식음료 브랜드에 서비스를 제공할 수 있게 됩니다.
PAR Technology (NYSE: PAR) a conclu l'acquisition de TASK Group Holdings, une plateforme mondiale de transactions de services alimentaires basée en Australie. L'accord, évalué à environ 131,5 millions de dollars en espèces et 2 163 393 actions ordinaires de PAR Technology, élargit l'influence de PAR au-delà des États-Unis et intègre des marques mondiales de premier plan.
TASK propose des solutions de commerce unifié à l'international, y compris l'engagement interactif des clients et une intégration fluide, pour des marques majeures à travers le monde. Sa plateforme est utilisée par Starbucks et Guzman Y Gomez, tandis que sa plateforme d'engagement client fidélité est exploitée par McDonald's dans 65 marchés. Cette acquisition permet à PAR de servir les principales marques de services alimentaires à l'échelle mondiale avec une approche de commerce unifié, des opérations de front-of-house aux opérations de back-of-house.
PAR Technology (NYSE: PAR) hat die Übernahme von TASK Group Holdings abgeschlossen, einer in Australien ansässigen globalen Plattform für Transaktionen im Food-Service-Sektor. Der Deal, der auf etwa 131,5 Millionen US-Dollar in bar und 2.163.393 Aktien von PAR Technology geschätzt wird, erweitert die Reichweite von PAR über die Vereinigten Staaten hinaus und bringt weitere erstklassige globale Marken ein.
TASK bietet internationale integrierte Handelssystemlösungen, einschließlich interaktiver Kundenbindung und nahtloser Integration, für große Marken weltweit an. Die Plattform wird von Starbucks und Guzman Y Gomez genutzt, während die Plattform für Kundenbindungsprogramme von McDonald's in 65 Märkten verwendet wird. Diese Übernahme ermöglicht es PAR, führende Unternehmen im Food-Service-Bereich weltweit mit einem integrierten Handelsansatz vom Front-of-House bis zum Back-of-House zu bedienen.
- Acquisition expands PAR's global market presence beyond the United States
- Brings in high-profile clients like Starbucks, Guzman Y Gomez, and McDonald's
- Enhances PAR's unified commerce offerings for enterprise foodservice brands
- Potential for increased revenue through expanded customer base and market reach
- Significant cash outlay of $131.5 million for the acquisition
- Potential dilution of existing shareholders due to issuance of 2,163,393 new shares
- Integration challenges may arise when combining two global companies
Insights
The acquisition of TASK Group Holdings Limited by PAR Technology Corporation is a significant move in the foodservice technology space. By acquiring TASK, PAR is not just expanding its geographic reach beyond the United States but also enhancing its product offerings. The acquisition cost, approximately
The strategic fit is clear, as TASK's platform is already popular among major global brands like Starbucks and McDonald's. This can significantly boost PAR’s credibility and customer base. Financially, the upfront cash cost and issuance of shares could dilute existing shareholders in the short term, but the long-term benefits might outweigh these concerns if the integration is successful. Investors should monitor PAR's ability to seamlessly integrate TASK and achieve the projected synergies without disruptions.
From a technology standpoint, the acquisition of TASK Group Holdings by PAR Technology Corporation is highly strategic. TASK provides advanced unified commerce solutions that include interactive customer engagement and seamless integration, vital for modern foodservice operations. The integration of TASK's technology with PAR's existing solutions can create a comprehensive platform that enhances both front-of-house and back-of-house operations.
This seamless integration is likely to improve operational efficiency and customer experience for enterprise foodservice brands. Moreover, TASK’s reputation for working with high-profile clients such as Starbucks and McDonald's adds significant value to PAR's technological portfolio. The successful integration of these platforms can lead to innovative solutions and could set new industry standards.
The acquisition of TASK Group by PAR Technology Corporation is a pivotal development in the foodservice industry. TASK's established presence in international markets and its robust client base, including top global brands, allow PAR to enter new territories with a considerable competitive edge. This strategic expansion can potentially accelerate PAR's growth by capturing a larger market share and offering diversified solutions tailored to various regions.
The market dynamics are favorable for such an acquisition, as the demand for unified commerce solutions in the foodservice industry is on the rise. Enterprises are increasingly seeking integrated platforms that can streamline operations and enhance customer engagement. By leveraging TASK's expertise and existing relationships with major brands, PAR stands to gain significant market traction, which could positively impact its stock performance in the long run.
Acquisition broadens PAR’s reach beyond
TASK provides international unified commerce solutions, including interactive customer engagement and seamless integration, tailored for major brands worldwide. This has made TASK’s transaction management platform the platform of choice for some of the world’s most successful and recognized foodservice brands including, Starbucks, and Guzman Y Gomez while its loyalty customer engagement platform is used by McDonald’s in 65 markets.
With the addition of TASK, PAR will be able to serve the top enterprise foodservice brands across the globe with a unified commerce approach from front-of-house to back-of-house.
PAR Technology finalized the acquisition for cash consideration of approximately
Now aligned, the combination of PAR Technology and TASK can now provide enterprise foodservice companies with a unified commerce and “better together” platform for seamless operations in their stores across the globe.
ABOUT PAR TECHNOLOGY
For more than 40 years, PAR Technology’s (NYSE: 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 70,000 restaurants in more than 110 countries use PAR’s restaurant hardware, software, loyalty, drive-thru, and back-office solutions. 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/20240722864859/en/
Christopher R. Byrnes (315) 743-8376
cbyrnes@partech.com, www.partech.com
Source: PAR Technology Corporation
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