Fiserv to Expand Digital Storefront Capabilities with Acquisition of BentoBox
Combination accelerates Clover omnicommerce strategy, enabling seamless hospitality experiences across physical and digital dining
Founded in 2013, BentoBox enables more than 7,500 restaurant concepts across 14,000 locations. Serving as the digital front door for restaurants, BentoBox provides a robust platform that includes website design, online ordering and marketing tools, all built with the goal of driving growth and engagement for restaurants and their diners. By converting visitors into loyal customers, BentoBox helps restaurants generate new revenue streams and create differentiated customer experiences. Combining the BentoBox solution with the end-to-end management platform and omnicommerce capabilities of Clover will drive increased operational efficiencies for restaurants and enable operators to deliver seamless and distinct hospitality experiences for their diners, eliminating friction in the system today.
“Consumers today expect a consistent, seamless experience when engaging with restaurants both in person and online,” said
“Joining Fiserv is a transformational step for BentoBox,” said Krystle Mobayeni, Co-Founder and Chief Executive Officer of BentoBox. “BentoBox is committed to elevating every interaction between restaurants and their guests. Together with
The transaction is subject to customary approvals and closing conditions and is expected to close in the fourth quarter of 2021. Financial terms of the transaction were not disclosed.
The BentoBox marketing and commerce platform delivers a seamless guest experience dedicated to accelerating growth and helping restaurants thrive. Over 7,500 restaurant concepts worldwide rely on BentoBox as their digital front door for elevated design, built-in marketing tools, actionable data, and a best-in-class customer experience that’s built for growth. The platform includes products such as websites, ordering (online ordering, pre-order & catering, gift cards, merchandise, tickets), and events management. Through existing Clover® from
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the timing of and ability to complete the transactions discussed herein, and the expected impact of the transaction. Forward-looking statements are subject to assumptions, risks and uncertainties that may cause actual results to differ materially from those contemplated by such forward-looking statements. The factors that may adversely impact the anticipated outcomes include, among others: the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction agreement; the outcome of any legal proceedings that may be instituted against the parties or others related to the transaction agreement; conditions to the completion of the transaction may not be satisfied, or the regulatory approvals required for the transaction may not be obtained on the terms expected or on the anticipated schedule; the amount of the costs, fees, expenses and charges related to the transaction may be different than expected; the parties' ability to meet expectations regarding the timing, completion and accounting and tax treatments of the transaction may be different than currently planned; and other factors included in “Risk Factors” in the company's Quarterly Report on Form 10-Q for the quarter ended
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