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PAR TECHNOLOGY CORPORATION

(PAR)
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PAR Technology : Announces the Addition of Digital Video Solutions Provider i3 International to the Brink POS« Integration Ecosystem

02/17/2021 | 07:31am EDT

ParTech, Inc. (PAR), a leading global provider of point of sale (POS) software and integrated technical solutions to the restaurant and retail industries, has added i3 International, an Artificial Intelligence (AI) video solutions provider, to its growing Brink POS® integration ecosystem. ParTech, Inc. is a wholly owned subsidiary of PAR Technology Corporation (NYSE: PAR).

Using video camera data combined with information supplied from Brink POS®, i3’s advanced AI technology helps restaurants and other businesses create and maintain safe and secure workplaces. i3’s cameras work seamlessly with Brink POS® transaction data to give restaurant operators the information they need to reduce customer wait times, increase overall daily sales totals, and improve the bottom line.

“The restaurant industry has been exploring new ways to add AI to their operations for several years now. Integrating with i3 was something we knew would be beneficial to our shared concepts,” said Stephen Lee, Director of Strategic Partnerships for PAR. “By integrating i3 into Brink POS®, restaurant operators, especially those in the QSR space, can start making decisions that benefit their business, their staff members, and their guests.”

“In closely reviewing the Quick Service Restaurant industry, we are acutely aware of the reduced and depressed operating margins that continue to challenge expansion and growth for QSR owners,” said Vy Hoang, Chief Customer Officer of i3 International. “Operators are reporting turnover rates typically exceeding 75%, some of which are directly related to theft. Covid-19 has also created a dynamic and profound shift with drive-through, curbside and mobile transactions as it relates to speed to service and safety. Combining Brink POS® transaction data with i3’s video analytic solution, owners are reporting an immediate improvement in food costs and operational efficiency. We are excited to work with PAR and bring innovative solutions to our shared clients.”

About i3 International

i3 provides intelligent, innovative, and integrated digital video solutions that help organizations create a safe and secure working environment. At the core of our technology is our advanced Artificial Intelligence (AI) engine. This technology has enabled i3 to collect important meta-data from the camera which can help businesses greatly reduce employee theft, drive efficiency in customer service, resulting in top and bottom-line improvement. For over 30 years, i3 has grown from a family-run business into a global brand. We are the leader in the designing and supplying of digital video solutions for today's foodservice industry. We understand the need for security and safety while balancing those needs with the desire for simplicity and ease of use. i3 led the industry in research and development in the field of video analytics, data analytics, and POS exception-based software. Our innovation pipeline remains fresh with new approaches to helping our partners and customers run a safe and profitable business.

About PAR Technology Corporation

PAR Technology Corporation through its wholly owned subsidiary ParTech, Inc., is a customer success-driven, global restaurant and retail technology company with over 100,000 restaurants in more than 110 countries using its point of sale hardware and software. ParTech’s Brink POS integration ecosystem enables quick service, fast casual, table service, and cloud restaurants to improve their operational efficiency by combining its cloud-based POS software with the world’s leading restaurant technology platforms. PAR Technology Corporation’s stock is traded on the New York Stock Exchange under the symbol PAR. For more information, visit www.partech.com or connect with PAR on Facebook or Twitter.


ę Business Wire 2021
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Financials (USD)
Sales 2021 271 M - -
Net income 2021 -48,8 M - -
Net Debt 2021 204 M - -
P/E ratio 2021 -35,6x
Yield 2021 -
Capitalization 1 849 M 1 849 M -
EV / Sales 2021 7,57x
EV / Sales 2022 6,29x
Nbr of Employees 1 031
Free-Float 91,0%
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Number of Analysts 5
Last Close Price 68,81 $
Average target price 103,50 $
Spread / Average Target 50,4%
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Managers and Directors
Savneet Singh President, Chief Executive Officer & Director
Bryan A. Menar Chief Financial & Accounting Officer
Raju Malhotra Chief Product & Technology Officer
Cynthia Ann Russo Independent Director
Douglas G. Rauch Independent Director
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