{"id":5141,"date":"2021-04-14T17:32:29","date_gmt":"2021-04-14T17:32:29","guid":{"rendered":"https:\/\/www.paymentfacilitator.com\/?p=5141"},"modified":"2023-02-13T09:29:49","modified_gmt":"2023-02-13T16:29:49","slug":"pf-par-technology-acquires-loyalty-provider-punchh","status":"publish","type":"post","link":"http:\/\/infinicept.com\/payment-facilitator\/news\/pf-par-technology-acquires-loyalty-provider-punchh\/","title":{"rendered":"PF PAR Technology Acquires Loyalty Provider Punchh"},"content":{"rendered":"\n

Restaurant software provider and payment facilitator <\/strong>PAR Technology<\/strong><\/a> has acquired <\/strong>Punchh<\/strong><\/a>, a company that provides loyalty and guest engagement solutions for restaurants, c-stores and retailers.<\/strong><\/p>\n\n\n\n

The acquisition better positions PAR as a cloud platform offering integrated point-of-sale technology alongside back office, payment and guest engagement solutions for enterprise restaurants, the company said in a press release.<\/p>\n\n\n\n

According to Savneet Singh, PAR Technology CEO and president, restaurants are struggling to navigate the volume of new software applications and complex integrations.<\/p>\n\n\n\n

\u201cWith the Punchh acquisition, we are building a platform that enables restaurants to scale quickly, own their path to innovation, and take back their guest relationship,\u201d Singh said.<\/p>\n\n\n\n

\u201cThis eliminates the need for juggling disjointed vendors, developing cumbersome point-to-point integrations, and relying on 3rd party dependencies. At the same time, Punchh advances our ability to provide customers with an end-to-end solution, from guest-to-kitchen, through one unified data source.\u201d<\/p>\n\n\n\n

\u201cWith its Brink POS\u00ae, PAR has been a Punchh partner for many years. We\u2019ve gotten to know them while jointly servicing customers and have always been impressed with their focus on their customer\u2019s success,\u201d said Shyam Rao, co-founder and president of Punchh.<\/p>\n\n\n\n

\u201cPAR\u2019s point-of-sale and back-office solutions combined with our loyalty and engagement platform give customers an end-to-end solution for top-line growth, profitable guest relationships and operational efficiencies. We\u2019re excited to join the PAR team and further our offerings to the hospitality industry.\u201d<\/p>\n\n\n\n

PAR is purchasing Punchh for approximately $500 million in cash and shares of PAR common stock to Punchh stockholders, according to the announcement. The company is funding the cash considerations through a combination of equity and debt, it said. The equity was raised through the sale of common stock to PAR Act III, LLC and to funds and accounts advised by T. Rowe Price Associates. The company also obtained a $180 million loan under a credit agreement. <\/p>\n\n\n\n

Keith Pascal, Act III partner, is joining PAR\u2019s board of directors, and Ron Shaich, Act III managing partner and founder of Panera Bread, is taking a Board Observer seat.<\/p>\n\n\n\n

\u201cWe are thrilled to join this journey with PAR and Punchh. As a founder and long-time CEO of a large restaurant company, I understand first-hand the struggles of trying to power a large enterprise by gluing together disparate technologies from multiple vendors which results in silos of data, increased management costs and barriers to agile innovation,\u201d Shaich said.<\/p>\n\n\n\n

\u201cHowever, those restaurant brands that can create a differentiated guest experience, aided by seamless omnichannel technology and a superior understanding of their guests\u2019 preferences and behaviors, will be best positioned to win in the ever increasingly competitive restaurant marketplace. I believe PAR\u2019s vision of a unified commerce cloud will enable more restaurant enterprises to compete effectively and efficiently in the digital arms race.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Restaurant software provider and payment facilitator PAR Technology has acquired Punchh, a company that provides loyalty and guest engagement solutions for restaurants, c-stores and retailers.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1014],"tags":[],"class_list":["post-5141","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/5141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/comments?post=5141"}],"version-history":[{"count":2,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/5141\/revisions"}],"predecessor-version":[{"id":9177,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/5141\/revisions\/9177"}],"wp:attachment":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/media?parent=5141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/categories?post=5141"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/tags?post=5141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}