Fiserv, Inc. (NASDAQ: FISV), an international provider of payments and financial services tech solutions, announced that it has entered an agreement to acquire BentoBox, a digital marketing and commerce platform provider that offers a seamless diner experience “dedicated to accelerating growth and helping restaurants seamlessly connect with their guests.”
As mentioned in a release, this transaction expands the firm’s Clover dining solutions and commerce/business management capabilities, which enable almost 200,000 restaurants of all sizes to provide “unique and differentiating diner experiences, from quick and casual to full service.”
Established in 2013, BentoBox enables over 7,500 restaurant concepts across 14,000 locations. Serving as the digital front door for restaurants, BentoBox offers a 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 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.”
Frank Bisignano, President and Chief Executive Officer of Fiserv, stated:
“Consumers today expect a consistent, seamless experience when engaging with restaurants both in person and online. The addition of BentoBox’s premier website capabilities to the business management solutions of Fiserv will strengthen our omnichannel platform, providing restaurants of all sizes and types with an integrated offering that delivers a customizable consumer experience. We look forward to welcoming the BentoBox team to Fiserv, as we build on our strategy to deliver blended digital and in-person customer experiences across channels that drive deeper engagement and increased loyalty for our clients.”
Krystle Mobayeni, Co-Founder and CEO at BentoBox, remarked:
“Joining Fiserv is a transformational step for BentoBox, BentoBox is committed to elevating every interaction between restaurants and their guests. Together with Fiserv, we look forward to rapidly growing our omnichannel capabilities with exceptional digital experiences for restaurants and their customers.”
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 announcement noted.