Par Technology (PAR), which specializes in developing software and hardware solutions for retail and food service, acquired Punchh Inc. This was the reason for the PAR stock’s growth.
PAR closed the last session at $83.72, up 7.05% or $5.51. Throughout the day, shares of the Par Technology fluctuated between $78.50 and $83.755. The number of shares traded was 0.95 million, which was more than its 50-day average volume of 0.29 million and more than its Volume year to Date of 0.29 million. The stock has appreciated by 466.78% in the past year and 26.87% in the last seven days alone. The stock has gained 122.54% in the previous six months. For the previous three months, the stock has increased by 31.99%. It has returned 33.33% so far this year.
The purchase price of Par Technology (PAR) was approximately $500 million in cash and stock. For restaurants, Punchh manages loyalty programs and customer interactions in the cloud. Restaurant chains are Punchh’s customers. The Par Technology offers a complete solution for managing points of sale, back office, payments, and visitors.
With the acquisition, PAR Technology offers a platform that enables restaurants to increase customer contact, establish telemarketing campaigns quickly, and maintain customer relationships over the long term. Also, it eliminates the need for multiple service providers and equipment suppliers. We also have high customer retention and sales of SaaS products.
It works with Punchh and expects a strong synergy when the two companies merge their cloud environments. Par Technology (PAR) is one of the POS software and hardware systems for the retail industry. The Par Technology works in the food and hospitality industries.