The deal is expected to close in the third quarter of 2024. Credit: Taras Vyshnya/Shutterstock.com.

Restaurant technology company PAR Technology (ParTech) has agreed to acquire the TASK Group, an Australia-based foodservice transaction platform, for $206m.

The acquisition will conclude in the third quarter of 2024, subject to receipt of approvals from TASK’s shareholders, the Australian courts and regulatory bodies.

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TASK is known for its international unified commerce solutions, which include interactive customer engagement and seamless integration, serving major foodservice brands across the world.

Its transaction management platform has been used by foodservice brands such as Starbucks and Guzman Y Gomez.

McDonald’s utilises TASK’s loyalty customer engagement platform in 65 markets.

With TASK’s integration, ParTech aims to offer comprehensive unified commerce solutions, extending from front-of-house to back-of-house operations.

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PAR Technology CEO Savneet Singh said: “Our goal at PAR has been to be the largest food service technology company in the world. Adding TASK will provide us with a global platform to build upon this vision.

“TASK not only broadens our reach beyond the United States and has a strong cash flow profile but also has the potential to bring premier global brands into the PAR fold, and accelerate our future growth.”

In addition to TASK, ParTech also concluded its acquisition of Stuzo, a provider of digital engagement software for convenience and fuel retailers, for $190m in a combination of cash and stock.

In February 2024, it strengthened its partnership with online food delivery platform GrubHub by integrating its MENU Link feature, a component of the PAR MENU ecosystem.

The integration allows for the automatic synchronisation of menu items, pricing and order details between PAR’s Brink point-of-sale system and Grubhub.