Par Technology announces sale of government subsidiaries for $102M combined

Par Technology (PAR) announced that it has agreed to the sale of its Government operating segment via the sale of its wholly owned subsidiaries: PAR Government Systems Corporation, or PGSC, and Rome Research Corporation, or RRC, for a combined total of $102 million. PAR announced it has completed the sale of 100% of the issued and outstanding equity interests of PGSC to Booz Allen Hamilton (BAH) in a simultaneous sign and close of the transaction on June 7. Par has also entered into a definitive acquisition agreement to sell RRC to NexTech Solutions Holdings. Pursuant to the definitive acquisition agreement, NTS will acquire 100% of the issued and outstanding equity interests of RRC with an expected close by the end of Q2.