Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, today announced that it has signed a definitive agreement to acquire BentoBox, a digital marketing and commerce platform provider that delivers a frictionless diner experience dedicated to accelerating growth and helping restaurants seamlessly connect with their guests.
This transaction expands the company’s Clover® dining solutions and industry-leading commerce and business management capabilities, which enable nearly 200,000 restaurants of all sizes to deliver unique and differentiating diner experiences, from quick and casual to full service.
Founded in 2013, BentoBox enables more than 7,500 restaurant concepts across 14,000 locations. Serving as the digital front door for restaurants, BentoBox provides a robust 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 loyal 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.
“Consumers today expect a consistent, seamless experience when engaging with restaurants both in person and online,” said Frank Bisignano, President and Chief Executive Officer of Fiserv. “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.”
“Joining Fiserv is a transformational step for BentoBox,” said Krystle Mobayeni, Co-Founder and Chief Executive Officer of 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.”
Danny Meyer, founder and CEO of Union Square Hospitality Group commented, "We have been a proud partner of BentoBox since 2015. It has been incredible to watch BentoBox evolve and lead the digital transformation of restaurants. I look forward to seeing BentoBox and Fiserv create world-class technology that helps restaurants continue to innovate, break barriers, and build more personal guest relationships."
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.