PAR Technology Corporation Announces Acquisition of SIVA

  • Springer-Miller Systems
  • 11.03.06
PAR Technology Corporation, a leading provider of integrated technology solutions to the hospitality industry, announced that it has acquired substantially all of the assets of SIVA® Corporation.

SIVA Corporation provides software solutions built on a service-oriented architecture that improves the management of money, materials, people and overall guest experience for multi-unit restaurant chains. The SIVA portfolio will become a part of the fast-growing PAR solutions product family and will serve as the foundation of the next generation product line. The purchase price is approximately $6.6 million in cash and PAR stock. The agreement provides for additional contingent purchase price payments based on certain sales based milestones and other conditions.

Based in Delray Beach, FL, SIVA is the creator of point-of-sale, kitchen, back office and operations intelligence software that use web based next generation technologies to improve operational efficiency and reduce the cost of technology ownership for multi-unit restaurant operations. Among its impressive customer list is the largest casual dining chain in the world Darden Restaurants, owners of the Red Lobster and Olive Garden. Other customers include Restaurants Unlimited, Inc., Luby’s and Legal Sea Foods.

“Today's acquisition expands our market and gives us a key technology platform to extend our share of growing and strategic hospitality markets. With this acquisition, PAR will be the first software supplier to offer a complete web-based, enterprise-architected solution to the restaurant industry” commented John W. Sammon, PAR Chairman and CEO. “Beyond the complementary nature of its applications, SIVA represents an immediate technology infusion in all areas of software development while bringing key architectural technologies to PAR for the basis of future development. Additionally, SIVA’s R&D operation forms the core of a new, innovative PAR Software Solutions Division, creating a center of excellence for PAR restaurant software development, delivery and support.”

“At SIVA, we take great pride in our utilization of emerging technologies to solve business problems for restaurant operators in new and innovative ways,” said SIVA CEO Jim Melvin. “Working with the backing, international infrastructure and people of PAR, we will be able to bring new ideas to the market much more quickly. It is a tremendous opportunity.” Melvin will join PAR as Chief Strategy Officer.

PAR’s restaurant software operations will be integrated into the existing SIVA organization forming a standalone software solutions division of PAR headed by its President, Karen E. Sammon.

“The acquisition of SIVA represents the completion of PAR’s go-to-market strategy for the hospitality industry,” commented Ms. Sammon. “The combination of our two businesses leverages PAR’s international sales, services and support organization and complements PAR’s world class hardware offering.”

PAR plans to continue marketing the SIVA products to the restaurant table service chain segment and immediately extend SIVA’s service-oriented enterprise architecture to the Quick Serve Restaurant (QSR) and other hospitality segments. Additional information can be found at www.partech.com/SIVA.

For more than 28 years, PAR has been a leader in providing solutions to the QSR market. PAR began a series of acquisitions in 2004 to expand its offerings to meet the needs of the greater hospitality industry, beginning with Springer-Miller to serve hotels and spas, PixelPoint to cover the independent restaurant market, and now SIVA.




Related Articles
want to read more articles like this?

want to read more articles like this?

Sign up to receive our twice-a-month Watercooler and Siegel Sez Newsletters and never miss another article or news story.