PAR Technology to acquire Punchh for $500m.

PAR Technology, a global provider of restaurant software, agreed to acquire Punchh, a provider of loyalty and guest engagement solutions, for $500m. "Today there is a conflict between restaurants and technology. The quantity of new software applications is making it difficult for restaurants to navigate complex integration networks and taking away from focusing on their guests. Meanwhile, online marketplaces are becoming intermediaries between restaurants and their guests. With the Punchh acquisition, we are building a platform that enables restaurants to scale quickly, own their path to innovation, and take back their guest relationship," Savneet Singh, PAR Technology President and CEO.