NEW HARTFORD, N.Y. — ParTech Inc. on Thursday announced it has completed its acquisition of AccSys, LLC, also known as Restaurant Magic, a Tampa, Florida–based restaurant software company.
The transaction closed on Wednesday, the firm said.
ParTech is a wholly owned subsidiary of New Hartford–based PAR Technology (NYSE: PAR).
(Sponsored)
What Is Governance, Risk Management, and Compliance (GRC)?
As cyber threats grow in numbers and severity, regulatory bodies are developing new cybersecurity frameworks for businesses to adhere to. These frameworks vary by industry, and a new type of
Keeping Tabs on Employee Internet Use Could Create Employer Liability
Question: As a private sector employer trying to police our employees’ unauthorized use and/or abuse of our internet system, are we in danger of violating any privacy laws? Answer: If
Restaurant Magic is the developer of Data Central., PAR said in a news release. Data Central is a suite of cloud back-office applications to help restaurants achieve operational and financial goals.
ParTech said it financed the $42 million purchase price for Restaurant Magic primarily through cash and equity. The acquisition price included $13 million of cash, “subject to purchase price adjustments;” $27 million of PAR Technology restricted stock; and a $2 million subordinated promissory note.
PAR Technology is a provider of software, systems, and service products to the restaurant and retail industries. Par’s government business provides computer-based system design, engineering, and technical services for the U.S. Department of Defense and various federal agencies.
Contact Reinhardt at ereinhardt@cnybj.com
