PAR Technology Corporation Acquires Stuzo and TASK Group

The acquisition expands PAR’s software offerings for convenience and fuel retailers.

March 12, 2024

PAR Technology Corporation, a global foodservice technology company, announced two transactions that expand its cloud-based unified commerce software offerings into convenience and fuel retailers, as well as international markets, the company announced.

PAR agreed to acquire TASK Group for approximately $206 million and has completed its acquisition of Stuzo Holdings LLC for approximately $190 million.

Both transactions adhere to PAR’s “M&A strategy of acquiring best-in-class products with marquee customer bases, ample cross-selling opportunities and significant addressable markets,” the company said. 

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

According to the press release, Stuzo, with its Open Commerce platform, helps convenience stores gain more share of the customer wallet and drive customer lifetime value. With Stuzo, PAR is now a leader in technology for convenience and fuel retailers with over 25,000 sites and substantial opportunities for innovation in the convenience channel, the company said.

NACS Daily recently carried two stories sponsored by Stuzo, one on loyalty programs and tobacco funding and the other on loyalty programs and CPG funding.