PAR Technology Corporation Announces Sale of Wholly Owned Subsidiaries PAR Government Systems Corp to Booz Allen Hamilton and Rome Research Corp to NexTech Solutions Holdings for Aggregate Consideration of $102M

PAR Technology Corporation (NYSE:PAR), a global restaurant technology company providing unified commerce solutions for enterprise foodservice announced today that it has agreed to the sale of its Government operating segment via the sale of its wholly owned subsidiaries: PAR Government Systems Corporation (PGSC) and Rome Research Corporation (RRC) for a combined total of $102 million.

PAR announced it has completed the sale of 100% of the issued and outstanding equity interests of PGSC to Booz Allen Hamilton Inc. (NYSE:BAH) in a simultaneous sign and close of the transaction on June 7, 2024.

PAR has also entered into a definitive acquisition agreement to sell RRC to NexTech Solutions Holdings, LLC (NTS). Pursuant to the definitive acquisition agreement, NTS will acquire 100% of the issued and outstanding equity interests of RRC with an expected close by the end of Q2, 2024.