Dive Brief:
- The British company Access Group has acquired Paytronix, a restaurant customer engagement and payments software provider, for an undisclosed amount, the companies announced Friday.
- Access Group made this deal as part of a wider plan to expand its presence in the U.S., according to the announcement. The business management software company’s current offerings include CRM solutions, inventory management, order fulfillment and accounting to mid-market companies in Europe, Asia-Pacific and the U.S., according to its website.
- Newton, Massachusetts-based Paytronix is being sold by the private equity firm Great Hill Partners, which purchased it in 2017, according to the release.
Dive Insight:
Access Group’s acquisition will double the company’s team in North America, said Access’s president of Americas, Jonah Paransky. It will also add some of Access’s offerings to Paytronix’s platform of loyalty programs, online ordering, gift cards, mobile apps and strategic insights.
Paytronix helps “restaurants and convenience stores engage their customers consistently and has a proven track record of solving customer problems, helping businesses retain and grow their customer base and ultimately boosting profits,” said Paransky in the announcement.
The Access Group, which currently serves more than 128,000 companies worldwide, expects the acquisition to accelerate Paytronix’s growth. Paytronix will keep its name after the deal closes.
Paytronix works with many convenience store companies, including Refuel Operating Company, Alltown Fresh, United Dairy Farmers, QuickChek and Thorntons, along with popular restaurants like Panera, Nando’s and Five Guys. Founded in 2001, its customer base covers 50,000 sites globally under 1,800 different brands.
It expanded its offerings earlier this year through a partnership with Mobivity, which let companies reward loyalty points in return for playing mobile games.
“Joining a global force such as Access will further broaden the software solutions available to our current and future client base, enhancing the value we can offer and helping to solve everyday business challenges,” Paytronix CEO Jeff Hindman said in a statement.
The Paytronix deal is one of the largest The Access Group has made in its more than 30 years, according to the announcement.
