Mon, 04 Nov 2024 | BUSINESS SALE
Loughborough-based software firm The Access Group has acquired US-based digital guest engagement provider Paytronix.
The Access Group, whose headquarters are based in Loughborough University’s Science & Enterprise Park is one of the largest UK business management software providers. Its cloud and AI powered software helps over 128,000 small and mid-sized firms in commercial and non-profit sectors manage a range of services from event management, to customer relationships, payroll, managed IT and candidate screening.
It employs over 7,000 people in offices around the globe including the UK, US, New Zealand, Malaysia, Australia and Romania.
Founded in 2001 by executive chairman Andrew Robbins, Paytronix is based in Newton, MA and was bought by Boston-based private equity firm Great Hill Partners in 2017. It is a cloud-based digital guest engagement platform for the hospitality industry.
Its platform is deployed in over 50,000 sites across 1,800 brands and has processed more than 40 billion consumer transactions. It boasts over 500 partnerships including many of the biggest names in the restaurant and convenience space, such as Google and UberEats. Their customers range from single operators to successful regional chains and large multi-unit enterprises like Nando’s and Five Guys.
Currently, the full Paytronix platform includes numerous capabilities for online ordering, loyalty, omnichannel messaging, branded mobile apps, gift cards, third-party marketplace management, and payments. Paytronix also creates targeted marketing campaigns by leveraging data from transactions and personalised customer accounts.
Under the deal Paytronix will retain its name and plans to integrate its platform with a selection of Access products.
The investment marks one of Access Group’s most significant acquisitions in its 30-plus-year history and, the company said, will help its US expansion drive.
Access Hospitality’s managing director, Champa Magesh, said: “By partnering with Paytronix, together we can achieve a broader footprint in the Americas and further strengthen our wider strategy to offer a comprehensive suite of unified technologies, that enhance the customer experience across hospitality and convenience store businesses.”
Paytronix CEO, Jeff Hindman said: “We’ve had the privilege of working alongside Great Hill Partners to deliver our solutions and services to innovative restaurant and convenience store brands. The acquisition by The Access Group is the beginning of another stage in our growth.”
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