Par Technology (PAR) recently made a major announcement regarding the sale of its wholly owned subsidiary, PAR Government Systems Corporation, to Booz Allen Hamilton Inc. for $95 million. This sale includes adjustments for debt and other financial considerations. In addition, PAR has revealed plans to sell another subsidiary, Rome Research Corporation, to NexTech Solutions Holdings for $7 million. The closing of this transaction is expected to take place in the second quarter of 2024. These strategic decisions are part of PAR’s efforts to reshape its portfolio and make significant changes to its business operations.
For more information on PAR stock, you can visit TipRanks’ Stock Analysis page.