PAR Technology has acquired TASK Group and Stuzo Holdings to expand its unified commerce software offerings.
These acquisitions will expand the global food service technology company’s offerings into convenience stores, fuel retailers and international markets, PAR Technology said in a Monday (March 11) press release.
The company has entered into an agreement to acquire TASK Group, an Australian global food service transaction platform designed for major brands worldwide, according to the release. This transaction is expected to close in the third quarter, subject to regulatory approvals and customary closing conditions.
“TASK not only broadens our reach beyond the United States and has a strong cash flow profile but also has the potential to bring premier global brands into the PAR fold, and accelerate our future growth,” Savneet Singh, CEO of PAR Technology, said in the release.
In addition, PAR Technology has completed its acquisition of Stuzo Holdings, which provides digital engagement software to convenience and fuel retailers, the release said. This acquisition extends PAR Technology’s reach to 25,000 convenience store sites.
With both transactions, PAR Technology has acquired products with ample customer bases, cross-selling opportunities and addressable markets, per the release.
“This is a monumental day for us at PAR — as we expand our business across the globe and enhance our product and service offerings for a wider range of the foodservice and fuel retail industry,” Singh said in the release.
In the case of restaurants, PAR Technology aims to help these clients adopt a “unified commerce” solution in which all feeds combine into a single flow that is highly efficient and easy to tweak for performance, Singh told PYMNTS’ Karen Webster in an interview posted in August 2022.
“Your system needs to be smart enough to say, ‘Let’s turn off our Ubers and DoorDash,’ or ‘Let’s send out messaging saying you ordered on our app, expect that order to take 90 minutes,’ i.e., maybe don’t order now,” Singh said. “That ability to slot orders, to throttle orders, to dynamically manage your kitchen, all that needs to come together.”
In an earlier transaction, PAR Technology said in August 2022 that it acquired MENU Technologies, an omnichannel ordering solution for international restaurant brands, to complement its suite of unified commerce solutions.