PAR Technology Corporation (Logistics Management S

Company Name:
PAR Technology Corporation (Logistics Management S 
Industrial & Diversified Growth 
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Transaction Summary:
PAR Technology Corporation (NYSE: PAR), a leading provider of hospitality technology and services, completed the asset sale of its subsidiary, PAR Logistics Management Systems (PAR LMS), to ORBCOMM Inc. (NASDAQ: ORBC) for approximately $6 million, comprised of cash and ORBCOMM common stock with a potential additional earn-out of $4 million. PAR LMS is a leading provider of advanced solutions for monitoring transport assets and cargo in the transportation and distribution industries. Needham & Company acted as exclusive financial advisor to PAR Technology Corporation. 
Company Description:
PAR Technology Corporation (NYSE: PAR) offers technology solutions for the full spectrum of restaurant operations, from large chain and independent table service restaurants to international quick service chains. PAR also offers hotel management systems that provide a complete suite of powerful tools for guest management, recreation management, and timeshare/condo management. PAR provides the spa industry a leading management application that was specifically designed to support the unique needs of the resort spa and day spa markets, a rapidly growing hospitality segment. PAR solutions also can be found in retailers, cinemas, cruise lines, stadiums and food service companies. PAR provides technology solutions to the Department of Defense and other federal agencies to address evolving intelligence, surveillance, and reconnaissance needs, as well as being a leading provider of military communications support services.  
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