NEW HARTFORD, N.Y. — PAR Technology (NYSE: PAR) announced it has acquired MENU Technologies AG, a growing Switzerland–based company that offers an omnichannel ordering solution for international restaurant brands.
The MENU acquisition adds an online-ordering component to PAR’s suite of unified commerce solutions. PAR did not disclose financial terms of the acquisition.
“Today, restaurants are overwhelmed with disparate technologies that are devoid of the connectivity or intelligence that a unified solution offers,” Savneet Singh, PAR Technology CEO and president, said in a news release. “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.”
(Sponsored)
Financial Inclusion through Affordable and Safe Banking Products
Financial inclusion is the accessibility of useful and affordable financial products and services to all individuals and businesses. Financial institutions have made strides in advancing these practices, most recently in
How to Generate Staff Buy-In for Cloud Document Management
How businesses manage important documents has changed quite a bit throughout history. Information that used to be housed in filing cabinets and rolodexes is now stored digitally, often in one
MENU —headquartered in Zug, Switzerland — and PAR share a core base of customers including dean & david and Vapiano, and the acquisition will bring PAR’s full platform to new markets while adding omnichannel ordering solutions to its U.S. clients.
“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,” Marlon Koch, MENU’s co-founder and chief product officer, said in the release.
On its website, MENU says it was launched in 2014 as “an innovative IT startup and has grown into a strong and sustainable company that enables sophisticated ecommerce for restaurant brands” that employs more than 160 people.
Headquartered in New Hartford, PAR provides point-of-sale, loyalty, and back-office software solutions along with hardware products to more than 100,000 restaurants in over 110 countries. The company posted revenue of $85.1 million in the second quarter, up from $69 million in the year-ago period. PAR’s net loss for the second quarter of this year was $18.8 million, compared to a net loss of $10 million, in the same period in 2021.
