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PAR TECHNOLOGY CORPORATION

(PAR)
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PAR Technology : Culver's Selects PAR Technology's Brink POS® Cloud-Based Software for All Its Locations

04/14/2021 | 07:31am EDT

ParTech, Inc. (PAR), a leading global provider of point of sale (POS) software and integrated technical solutions to the restaurant industry, today announced that Culver’s, a 790+-location quick-service restaurant concept headquartered in Wisconsin, has selected PAR’s Brink POS® as it’s point of sale solution across its entire network. ParTech, Inc. is a wholly owned subsidiary of PAR Technology Corporation (NYSE: PAR).

Culver’s, a mid-Western U.S.-based chain known for its ButterBurgers® and frozen custard, worked with long-time partner RDS Wisconsin during its software selection process, ultimately choosing Brink POS® because of its industry-leading integration partner ecosystem. RDS Wisconsin will be managing the relationship, including product rollout and servicing.

“PAR’s experience in QSR and innovative approach to technology, combined with RDS’ proven expertise and knowledge of Culver’s, its franchisees, and team members allows us to focus on our mission; ‘We genuinely care, so every guest who chooses Culver’s leaves happy,’” said Kelly Hanson, Vice President of Information Technology, Culver Franchising System, LLC. “We’ve also seen our guest preferences shift from 60% of our business to nearly all of our business being On-the-Go. PAR’s approach to mobile capabilities for our restaurants and franchisees will offer more flexibility to serve our guests both online and in our drive-thrus.”

“We’re honored and humbled by Culver’s trust in PAR,” said Savneet Singh, President and CEO of PAR. ”PAR strives to deliver the solutions that connect people to the restaurants, meals and moments they love, and we look forward to delivering on this brand promise. This is a storied restaurant concept, and PAR will work hard to help Culver’s continue their legacy.”

The initial pilot rollout will start later this month. Conversions for the remaining Culver’s locations will begin in late 2021.

About Culver’s

For over 35 years, Culver’s guests have been treated to cooked-to-order food made with farm-fresh ingredients and served with a smile. The ever-expanding franchise system now numbers over 790 family-owned and operated restaurants in 25 states. The restaurants’ nationally recognized customer service is based on small-town, Midwestern values, genuine friendliness and an unwavering commitment to quality. Signature items include the award-winning ButterBurger, made from fresh, never frozen beef, and Fresh Frozen Custard, including the famous Flavor of the Day program. For more information, visit www.culvers.com, www.culvers.com/facebook, www.twitter.com/culvers or www.instagram.com/culvers

About RDS Wisconsin

Retail Data Systems of Wisconsin, part of Data Systems, Inc., the largest Point of Sale Reseller in the country, provides leading-edge Retail Technology Solutions to the Quick Service, Grocery, Specialty Retail, Petroleum and Convenience, and Table Service Industries. RDS’ 70+ years of industry knowledge, technical expertise, and commitment to premier customer service contributes to our long-standing partnerships with valued clients like Culver’s.

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. With the recent acquisition of leading Loyalty solutions provider, Punchh Inc., PAR has become a Unified Commerce Cloud Platform for Enterprise Restaurants. PAR's platform enables quick service, fast casual and table service restaurants to improve their operational efficiency by combining its cloud-based Brink POS®, Data Central® backoffice, PAR payments and now Punchh loyalty software with the world's leading restaurant technology platforms. PAR Technology'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 Technology on Facebook or Twitter.


© Business Wire 2021
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Financials (USD)
Sales 2021 263 M - -
Net income 2021 -29,8 M - -
Net Debt 2021 179 M - -
P/E ratio 2021 -48,7x
Yield 2021 -
Capitalization 1 733 M 1 733 M -
EV / Sales 2021 7,28x
EV / Sales 2022 6,08x
Nbr of Employees 1 031
Free-Float 71,5%
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Mean consensus BUY
Number of Analysts 4
Average target price 103,50 $
Last Close Price 66,78 $
Spread / Highest target 70,7%
Spread / Average Target 55,0%
Spread / Lowest Target 34,8%
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Managers and Directors
NameTitle
Savneet Singh President, Chief Executive Officer & Director
Bryan A. Menar Chief Financial & Accounting Officer
Cynthia Ann Russo Independent Director
Douglas G. Rauch Independent Director
James C. Stoffel Lead Independent Director
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