The Access Group to acquire Paytronix
The Access Group, a provider of business management software to mid-market organizations in Europe, the United States and Asia Pacific, announced it has entered an agreement to Paytronix, a provider in guest engagement for restaurants and convenience stores.
This investment represents one of The Access Group’s most significant acquisitions in its 30-plus-year history and is a major step forward for the Company as it continues to focus on its product offering in the United States.
Paytronix will retain its name and plans to integrate its platform with a selection of Access products.
The Paytronix guest engagement platform supports online ordering, loyalty, omnichannel messaging, branded mobile apps, gift cards, third-party marketplace management, and payments. Leveraging data from transactions and personalized customer accounts, Paytronix can create targeted marketing campaigns that motivate increased interaction and spending throughout the customer journey.
Paytronix was purchased by Boston-based Great Hill Partners in 2017, and they have been a valued accelerator of the company’s rapid growth.
“We’ve had the privilege of working alongside Great Hill Partners to deliver our solutions and services to the innovative restaurant and convenience store brands that we proudly call clients,” said Paytronix CEO, Jeff Hindman. “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.”
READ: Guests order 35% more items per check through first-party online ordering platforms
“Since our founding, we’ve worked to help clients build one-to-one interactions, enhance customer engagement and streamline operations for their businesses. Billions of transactions and millions of data-driven guest profiles later we realize our vision every time an AI-enhanced campaign is sent, which is nearly once every minute,” continued Hindman. “Joining a global force such as Access will further broaden the software solutions available to our current and future client base, enhancing the value we can offer and helping to solve everyday business challenges.”
“We are incredibly proud of the progress and achievements made by Paytronix during our partnership. Over the past seven years, Paytronix has demonstrated remarkable growth and innovation, understanding customer demand to become the leading choice when it comes to guest engagements,” said Nick Cayer, managing director at Great Hill Partners. “We are confident that Paytronix will be well positioned under the Access umbrella, and we wish Jeff and the entire team success moving forward.”
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.”
Access’s president of Americas, Jonah Paransky, said: “This is the next step in our exciting US story – doubling our team in North America to over 450 and giving us a broader reach into hospitality and retail businesses to help further our aim of offering the most comprehensive and adaptable platform to enhance guest experiences and profitability.
READ: Q&A: A Virtual Sit Down with Jonah Paransky, head of Americas at Access Group
“Paytronix is a best-in-class software provider, helping restaurants and convenience stores engage their customers consistently and has a proven track record of solving customer problems, helping businesses retain and grow their customer base and ultimately boosting profits. We very much look forward to working with current and future customers as we seek to revolutionize the hospitality sector, one smart solution at a time.”
