New Hartford, NY – July 19, 2022 –  ParTech, Inc. (PAR), (NYSE: PAR), a global restaurant technology company and provider of unified commerce for enterprise restaurants, today announced the acquisition of MENU Technologies AG (MENU), a fast growing, omnichannel ordering solution for international restaurant brands.

The MENU acquisition adds a robust online ordering component to PAR’s suite of unified commerce solutions that maximize business performance for PAR customers, better positioning the organization as one of the first unified commerce solutions for enterprise restaurants.

“Today, restaurants are overwhelmed with disparate technologies that are devoid of the connectivity or intelligence that a unified solution offers,” said CEO & President of PAR Technology Corporation, Savneet Singh. “The acquisition of MENU allows PAR to consolidate a restaurant’s off-premise and on-premise orders into one unified tech stack. 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.”

Headquartered in Zug, Switzerland, MENU Technologies is one of the fastest-growing, modern, omnichannel ordering solutions for restaurant brands. With a core base of shared customers between PAR and MENU– including brands like dean & david, Vapiano– the acquisition will bring PAR’s expansive platform to new markets and add omnichannel ordering solutions to its U.S. clients.

“Since day one, our technology was purpose-built for restaurant brands to win back their customers, simplify management of digital channels and streamline ordering processes,” said MENU’s co-founder and CPO Marlon Koch. “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.”

MENU’s online ordering capabilities enhance PAR’s already integrated suite of SaaS solutions that includes Brink POS® for front-of-house, Data Central® for back-office, PAR Pay and PAR Payment Services for payments, and Punchh® for customer loyalty and engagement. With the acquisition, PAR solidifies itself as a leader for unified commerce that streamlines the back-of-house and front-of-house operations to maximize each guest’s experience.

To learn more about PAR’s industry-leading solutions, visit partech.com .

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, Section 27A of the Securities Act of 1933, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical in nature, but rather are predictive of PAR Technology Corporation’s future operations, financial condition, business strategies, and prospects. Forward-looking statements are generally identified by words such as “anticipate”, “believe,” “belief,” “continue,” “could,” “expect,” “estimate,” “intend,” “may,” “opportunity,” “plan,” “should,” “will,” “would,” “will likely result,” and similar expressions. Forward-looking statements are based on current expectations and assumptions as to future occurrences and trends, including statements expressing optimism about future operating results and business strategies, including PAR’s unified commerce, statements concerning the expected development, demand, performance, market share or competitive performance relating to PAR’s products or services, that are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements, including potential business uncertainties relating to PAR’s acquisition of MENU, including possible disruptions to PAR’s business and operational relationships and PAR’s ability to achieve anticipated synergies, and the anticipated costs, timing, and complexity of integration. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in PAR Technology Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021, and PAR Technology Corporation’s other filings with the Securities and Exchange Commission. PAR Technology Corporation undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

About MENU Technologies

MENU is a market-leading eCommerce platform for global restaurant brands, powering all digital customer touchpoints from mobile, web, kiosk to delivery marketplaces. We provide restaurant brands with the tools they need to grow their digital business, manage orders from all channels and for all order types, orchestrate their delivery operations, and fully control their digital experience to retain a direct customer relationship. With over 100 technology partner integrations, the MENU platform powers digital experiences for some of the largest restaurant brands worldwide. Learn more at https://Menu.app

About PAR Technology Corporation

For more than 40 years, PAR Technology Corporation’s (NYSE Symbol: 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 opening to close, during the most hectic rush hours, and when the world forces them to adapt and overcome. More than 100,000 restaurants in more than 110 countries use PAR’s restaurant point-of-sale, loyalty, and back-office software solutions as well as industry-leading hardware and drive-thru offerings. To learn more, visit www.partech.com or connect with us

on LinkedIn, Twitter, Facebook, and Instagram.

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New Hartford, NY – July 19, 2022 –  ParTech, Inc. (PAR), (NYSE: PAR), a global restaurant technology company and provider of unified commerce for enterprise restaurants, today announced the launch of PAR Infinity (PAR). The subscription-based hardware offering combines PAR’s purpose-built technology with industry-leading support services such as a 24x7x365 help desk, robust managed care capabilities, field service, and equipment exchange for the life of the customer. PAR Infinity relieves the burden of owning and managing the hardware restaurants rely on to operate efficiently and profitably.

PAR Infinity does not require payment upfront and PAR assumes responsibility for successfully implementing, maintaining, and updating the technology throughout the terminal lifespan. Customers can also add several industry-defining PAR products such as Brink POS®, a market- leading Point of Sale system, Punchh®, loyalty, offer management, and engagement platform, Data Central®, labor, scheduling, and analytics, and PAR Pay®, payment services.

“We’ve witnessed the rapid adoption of technology throughout the hospitality industry, but with the speed at which restaurants work, any IT issues can be costly,” said Savneet Singh, CEO and President of PAR Technology. “Every minute a restaurant is thinking about hardware, an upgrade or app integration, it takes time away from elevating the guest experience. Many technology vendors focus on putting their hardware into restaurants with little consideration for what happens once it gets there. When restaurants have PAR Infinity, they are gaining a dedicated IT staff for as long as they are a customer.”

Anchored by the new PAR Helix terminal, PAR Infinity addresses one of the most common Hardware as a Service (HaaS) problems with an unmatched solution. Unlike other hardware vendors, where once the technology advances, restaurants are on the hook to purchase new hardware, PAR protects restaurants from technology obsolescence. PAR will take over the entire hardware process from installation and maintenance to upgrading, servicing, and eventual removal of the hardware when it is no longer needed. Corporate IT departments no longer need to invest time into day-to-day maintenance of the system, and restaurant staff can focus on serving customers and creating one-of- a-kind guest experiences.

“Historically, hardware would last for several years, and restaurant operators could manage the upkeep, but digital transformation is happening more quickly now, and operators are struggling to service their technology fast enough,” said Dorothy Creamer, research manager, hospitality and travel digital transformation, IDC. “Restaurant operators are seeking more support from solution providers in IT management and services to remove the need for them to act as technicians. IDC data shows that this is a struggle for the majority of restaurants, with nearly a quarter (24%) of operators naming systems maintenance the top challenge they face(1). In turn, restaurant operators are looking to IT managed services to ensure business resiliency, with 72% planning to increase investment making it the top growth area for IT spending in 2022(2). POS solution providers, like PAR are tapping into this need to act as end-to-end partners to empower restaurants to be more responsive to the changing needs of customers, focus on the guest experience and innovate at the pace customers have come to expect.”

PAR Infinity provides restaurants with the hardware and services they need to operate without worrying about the technology that their business runs on.

To learn more about PAR Technology, visit partech.com. 

About PAR Technology Corporation

For more than 40 years, PAR Technology’s (NYSE Symbol: 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 100,000 restaurants in more than 110 countries use PAR’s restaurant hardware, software, drive-thru, and back-office solutions. With the acquisition of Punchh Inc., a leading SaaS based customer loyalty and engagement solutions provider, PAR has become a Unified Commerce Cloud Platform for Enterprise Restaurants. To learn more, visit www.partech.com or connect with us on LinkedIn, Twitter, Facebook, and Instagram.

Sources:

# # #

1. Digital First and Data Driven: Hospitality, Dining and Travel Technology Investments and Strategies — IT Spending and Business Objectives Focus on Resiliency and Adaptability Doc #

US47248821 https://www.idc.com/getdoc.jsp?containerId=US47248821&pageType=PRINTFRIENDLY

2. Future Enterprise Resiliency & Spending Survey, IDC, October, 2021, Total n=829, Hospitality & Travel n=95

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