PAR Technology Corporation
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PAR Technology Corporation[edit]
| Public | |
| Traded as | NYSE: PAR |
| ISIN | 🆔 |
| Industry | Restaurant, Retail and Hospitality Technology |
| Founded 📆 | 1968 |
| Founder 👔 | John W. Sammon and Charlie Constantino |
| Headquarters 🏙️ | , New Hartford, New York , USA |
Area served 🗺️ | |
Key people | Savneet Singh (President and CEO) |
| Products 📟 | POS systems, loyalty systems, restaurant back-office, payment services, digital ordering, hospitality hardware |
| Revenue🤑 | $415M (2023) |
| Members | |
Number of employees | 1,000+ |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
PAR Technology Corporation is an American B2B technology company providing software and hardware solutions for the hospitality industry. The company is headquartered in New Hartford, New York and is traded on the New York Stock Exchange.
History[edit]
PAR Technology Corporation was co-founded in 1968 by John W. Sammon and Charlie Constantino,.[1] initially focusing on developing systems for the US Department of Defense. Over the decades, PAR shifted its focus to the hospitality industry, supplying point of sale (POS) systems and other technology solutions.
In 2005, PAR Technology expanded into restaurant software by acquiring PixelPoint Technologies, a company specializing in restaurant POS software[2]. The acquisition of Brink Software in 2014 marked a milestone for PAR Technology, introducing a cloud-based POS system into PAR's portfolio.[3]
Since 2018, under the leadership of Savneet Singh[4] PAR Technology has focused on expanding its software offerings through acquisitions. Key acquisitions include Restaurant Magic in 2019,[5] which brought back-office management solutions, and Punchh, an AI-driven digital loyalty platform, in 2021.[6][7]
In 2024, PAR Technology divested its government business segment to concentrate on its core restaurant and hospitality technology sectors.[8]
References[edit]
- ↑ "Charlie Constantino is remembered for philanthropy, global impact through PAR Technology". Rochester Business Journal. 29 November 2022. Retrieved 2024-06-16.
- ↑ "PAR Technology Acquires PixelPoint Technologies". Mergr. Retrieved 2024-06-16.
- ↑ "PAR Technology Acquires Privately Held Brink Software; Terms Not Disclosed". RTT News. Retrieved 2024-06-16.
- ↑ "Savneet Singh on leadership: Listen, synthesize ideas, provide clarity, own the result". Syracuse.com. 29 March 2022. Retrieved 2024-06-15.
- ↑ "Tampa-based restaurant software provider acquired in $42M deal". Tampa Bay Business Journal. Retrieved 2024-06-15.
- ↑ "Par Technology could be a dominant force after $500 million acquisition, Panera founder says". CNBC. 14 April 2021. Retrieved 2024-06-15.
- ↑ "Punchh raises $40 million for AI that promotes customer engagement and loyalty". VentureBeat. 14 November 2019. Retrieved 2024-06-15.
- ↑ "Booz Allen Buys PAR Government Systems to Expand Defense Portfolio". GovConWire.com. Retrieved 2024-06-15.
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