Sumary of Why Par Technology Stock Jumped on Wednesday:
- What happened It’s been a volatile few days for investors in this software services provider for restaurant companies.
- ParTech is looking at a massive growth opportunity where about 1 million restaurants in the U.S. are spending a small portion of their revenue on marketing and technology, such as voice AI, which is rapidly changing how people order food.
- Now what ParTech recently completed the $500 million acquisition of Punchh in the second quarter, which creates a commerce cloud leader for large restaurants, serving 40 of the 100 largest restaurant companies.
- Management believes this acquisition should allow the combined company to help restaurant owners drive greater customer engagement through loyalty and promotional marketing.