We are advising TASK on the transaction

Davis Polk is advising TASK Group Holdings Limited, an Australian corporation, on its cash and stock acquisition by PAR Technology Corporation at an implied value of approximately AU$310 million. The transaction will be implemented by way of a scheme of arrangement under Australian law and is expected to occur in the third quarter of 2024, subject to regulatory approvals and other customary closing conditions.

TASK Group is a leading provider of technology solutions enabling its global hospitality clients to maximize their customer relationships in an increasingly digital world. TASK Group’s end-to-end cloud-based platform helps clients to improve customer experiences across every transactional touchpoint, including digital customer-facing services, back-of-house and enterprise operations. The company’s ecosystem combines transaction services, personalization, offer management and BI technology to help clients generate operational efficiencies, drive valuable data insights about their consumer base, activate new promotions and build brand loyalty.

PAR Technology Corporation develops and markets products that assist hospitality operators around the world to better manage money, materials, people and the guest experience. PAR has provided solutions, including software, hardware and services to the world’s largest restaurant chains and their franchisees for 40 years.

The Davis Polk corporate team includes partner Phillip R. Mills and associates Yifei Yang and Maggie Xing. Partner Corey M. Goodman and associate Yueyu Yang are providing tax advice. Partner Robert F. Smith is providing acquisition finance advice. Counsel Mary K. Marks is providing antitrust and competition advice. All members of the Davis Polk team are based in the New York office. 

King & Wood Mallesons is advising TASK Group as to Australian law.

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