Loyalty consolidation
PAR Technology Corp., a provider of restaurant software, has acquired Punchh Inc., a major loyalty and customer engagement solutions company for the convenience-store and foodservice channels, for approximately $500 million paid in cash and shares of PAR common stock to Punchh stockholders.
This acquisition makes New Hartford, N.Y.-based PAR a unified commerce cloud platform for enterprise restaurants and retailers and positions PAR to offer integrated point-of-sale, back-office, payment and customer engagement solutions across channels.