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
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PAR Technology Corporation (NYSE:PAR) has announced the sale of its Government operating segment, including PAR Government Systems Corporation (PGSC) to Booz Allen Hamilton (NYSE:BAH) and Rome Research Corporation (RRC) to NexTech Solutions Holdings for a total of $102 million.
June 10, 2024 | 11:35 am
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POSITIVE IMPACT
Booz Allen Hamilton has acquired PAR Government Systems Corporation (PGSC) from PAR Technology Corporation. This acquisition could enhance BAH's capabilities in government services.
The acquisition of PGSC by Booz Allen Hamilton could strengthen its position in the government services sector, potentially leading to new contracts and revenue growth.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
PAR Technology Corporation has sold its Government operating segment, including PGSC and RRC, for $102 million. This divestiture allows PAR to focus on its core restaurant technology business.
The sale of the Government segment allows PAR to streamline its operations and focus on its core business, which could lead to improved financial performance and investor confidence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100