PAR Technology acquires Delaget for $132 million to enhance restaurant analytics

Food service technology firm PAR Technology has completed the acquisition of Delaget, a provider of restaurant analytics, in a deal valued at $132 million. The transaction was finalised on December 31, ahead of the announcement made via a press release on January 2.

PAR Technology’s Chief Executive Officer, Savneet Singh, highlighted the significance of this acquisition, stating, “The acquisition of Delaget marks another strategic milestone in PAR’s mission to build the industry’s most comprehensive food service platform.” He elaborated on the advantages this merger brings by noting that Delaget’s analytical capabilities will enhance PAR’s operator cloud solution, benefiting customers with improved back-office functionalities, operational efficiency, and data-driven insights. Singh asserted that this integration would empower restaurant operators to make informed decisions, thereby reducing costs and fostering operational excellence in real-time.

Founded in 2001, Delaget boasts more than 125 brands among its clientele, including 40 of North America’s leading 50 restaurant concepts. The company’s platform extends beyond mere analytics, offering features related to loss prevention and operational insights.

Jason Tober, CEO of Delaget, expressed optimism regarding the union of the two companies, saying, “Our shared vision for transforming restaurant operations through data insights, combined with PAR Technology’s scale and industry leadership, will allow us to deliver even greater outcomes to our customers.”

This acquisition continues PAR Technology’s trend of expansion following its purchase last year of TASK Group and Stuzo Holdings, moves that broadened its technology offerings into convenience stores, fuel retailers, and international markets.

The restaurant sector is currently experiencing a significant technological shift, predominantly characterised by advances in payment systems and customer convenience. Innovations like pay-at-the-table technology have emerged as vital components of this transformation.

Terry Roberts, an executive relationship manager at Discover® Global Network, noted in a November interview with PYMNTS that the demand for enhanced customer experiences and heightened security, alongside notable staff shortages, is primarily influencing the growth of pay-at-the-table services. This technology enables diners to complete transactions directly from their tables, using either handheld point-of-sale (POS) devices operated by servers or standalone kiosks.

The diversity of payment methods available varies between regions, with QR codes gaining traction in Asia, while digital wallets are more prevalent in Europe and North America. Furthermore, the rise of global SoftPOS systems enables merchants to process payments using mobile phones or tablets, providing added flexibility in transaction methods at the table.

As the industry continues to evolve, companies like PAR Technology and Delaget are positioned to leverage these technological advancements to further enhance operational efficiencies in the restaurant space.

Source: Noah Wire Services