PAR Technology Corporation Announces Closing of Acquisition of TASK Group Holdings Limited

Acquisition broadens PAR’s reach beyond the United States and has the potential to bring additional premier global brands into the PAR fold.

NEW HARTFORD, N.Y.--(BUSINESS WIRE)--PAR Technology Corporation (NYSE: PAR) a global foodservice technology company providing unified commerce solutions to enterprise restaurants and other foodservice outlets today announced the closing of the previously reported acquisition of TASK Group Holdings Limited (TASK), an Australia-based global foodservice transaction platform.

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 U.S. $131.5 million, and the issuance at closing of 2,163,393 shares of PAR Technology common stock.

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.