Plexure and TASK have entered into a binding, conditional agreement to merge, in what will be a $120-million-dollar deal. This powerful merger will bring together end-to-end cloud engagement with transaction management software to support major international hospitality enterprises.
Since 2010, Plexure has been instrumental in engaging customers on mobile devices and driving them into stores with personalized offers, mobile order-and-pay, loyalty programs, and seamless operational integration.
As a leading provider of POS applications, TASK supports a significant customer base including 50 global brands in the restaurant, food service, entertainment, and stadium venues sectors. TASK’s cloud-based platform allows businesses to access real-time sales data, remotely manage POS terminals, engage guests with interactive platforms, and seamlessly integrate across third-party systems.
The combination of Plexure and TASK marks a significant achievement in the hospitality technology space. The strategic benefit will allow the group to offer an expanded product portfolio for its diverse international customer base. As a key technology partner for McDonald’s, Plexure will bring over 323 million end users across 66 different countries to the group ecosystem.
Clients, in turn, will continue to take advantage of the group’s vision to deliver exceptional customer satisfaction through unparalleled technologies and tailored personalization. The combined group will focus on developing stronger partnerships with proven benefits – including increases in customer numbers and visit frequency, higher average transaction values, larger share of wallet, and improved customer satisfaction scores.
Phil Norman, Plexure Chairman, says, “Our clients want to provide each customer a personalized, positive experience on device and in-venue. Major enterprise customers strive (and usually fail) to do this today by integrating multiple vendor solutions and managing complex internal management requirements.”
TASK delivered pro-forma revenue of NZ$14.0m and a pro-forma EBITDA of NZ$2.4m for the year ended 30 June, 2021. The majority of TASK’s revenue is recurring and a growing proportion of this revenue is derived from clients in North America.
“With this acquisition, we will enable clients to deliver a better experience and a personalized and seamless service to all their customers, on mobile devices, and throughout the venue, through an integrated, highly scalable platform,” said Phil Norman.
He added, “As well as an outstanding platform, TASK brings us an enviable list of blue-chip clients, multiple segment deployments, growing recurring revenue, and a strong leadership team.”
Upon completion of the merger, TASK’s CEO, Daniel Houden, is to be appointed CEO of the combined group.
Daniel Houden, announced, “Plexure’s personalization engine is the perfect complement to our offering – it will enable us to offer our clients a world-class solution of even greater breadth. We are excited about joining the Plexure team and accelerating the global growth of the combined business.”