PAR Technology sells PGSC to Booz Allen for $95M, agrees to sell RRC for $7M

PAR TECHNOLOGY CORP

Completed sale of PGSC to Booz Allen Hamilton for $95M cash on June 7, 2024.
Signed agreement to sell RRC to NexTech Solutions Holdings for $7M; expected close Q2 2024.
Combined proceeds of $102M from divestiture of government operating segment.
Michael D. Nelson, PGSC President, ceases as named executive officer effective closing.
PAR intends to reinvest capital into core restaurant technology business.

item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Michael D. Nelson

President of PGSC

PAR · PAR TECHNOLOGY CORP

Filed: June 10, 2024, 7:59 PM ET

Effective as of the Signing/Closing Date, Michael D. Nelson, President of PGSC, ceased to be a named executive officer of PAR.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Michael D. Nelson departed as President of PGSC at PAR TECHNOLOGY CORP.

Action: ceased to be a named executive officer
Role: President of PGSC

Exact text from the filing

Effective as of the Signing/Closing Date, Michael D. Nelson, President of PGSC, ceased to be a named executive officer of PAR.

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PAR TECHNOLOGY CORP filing history →

Source: SEC EDGAR

accession 0001140361-24-029413

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