Paytronix, a provider of digital loyalty programs for restaurants and convenience stores, is set to be acquired by The Access Group, a business software company based in the U.K. Terms of the deal were not disclosed.
In a press release, Access said the deal will help it expand its presence in the U.S. hospitality sector. The company currently offers a variety of tech products for a range of businesses, including restaurants, in Europe, the U.S. and the Asia Pacific region. Its restaurant line includes wi-fi, online reservations and digital ordering. It did not appear to have a restaurant loyalty system.
Access also works with construction companies, manufacturers, warehouses and hotels, offering various product lines for each. It has made many acquisitions in recent years, including 20 in 2022 alone. But it said Paytronix will be one of the most significant in its more than 30-year history.
Founded in 2001, Newton, Massachusetts-based Paytronix is one of the leading loyalty providers, in use by more than 1,800 brands in more than 50,000 locations. Besides loyalty, it also offers online ordering, mobile apps, gift cards and third-party marketplace management.
The company is currently owned by Boston-based private-equity firm Great Hill Partners, which acquired it in 2017.
Paytronix will keep its name after the Access acquisition, and customers should expect no change to their service, CEO Jeff Hindman said in an email. The company will also integrate with some Access products and make them available to Paytronix customers.
“The acquisition by The Access Group is the beginning of another stage in our growth, and I’m excited to say that from here we’re only going to build upon the service and capabilities that our clients know us for,” Hindman said in a statement.
Loyalty programs have been one of the hottest trends in restaurants in recent years as brands look to drive customer frequency and get more data on their customers. More than 60% of limited-service operators planned to invest in a program this year, according to the National Restaurant Association’s Technology Landscape Report.
Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.