Par Technology plans to buy Tampa software company for $42M
PAR Technology Corp. (NYSE:PAR) has a deal to buy AccSys LLC, a restaurant software company in Tampa. The company, better known as Restaurant Magic, developed Data Central, a suite of cloud backoffice applications to help restaurants achieve operational and financial goals. Par Technology, in New Hartford, New York, plans to pay $42 million for Restaurant Magic, financing the deal primarily through cash and equity, a news release said. "Our decision to become a part of PAR was based upon our belief that by combining our companies we will provide new and stronger opportunities to our clients and employees," said Drew Peloubet, CEO of Restaurant Magic, in the news release. The deal is expected to close during the fourth quarter of 2019.