Restaurant management company Toast has acquired HR and payroll solution StratEx for an undisclosed amount.
Following the close of the acquisition, the StratEx solution will be integrated with Toast and will support its point of sale services.
StratEx provides HR software and consulting services for restaurants to automate applicant tracking, scheduling, payroll, benefits, and labour law compliance.
StratEx CEO Adam Ochstein said, “We’re passionate about the restaurant industry and helping our community of restaurateurs succeed in today’s dynamic – and often challenging – labour market.
“In Toast we discovered a partner that is equally as passionate about the restaurant community. Joining forces allows us to accelerate investments in our platform and build new employee-facing products that will allow restaurants running on Toast to attract, hire, and retain great teams.”
Boston-headquartered Toast supplies restaurants with POS terminals and handhelds, reporting and analytics tools, loyalty programs, and online ordering systems. Its POS solutions come in a variety of types with handheld devices helping more freedom, while kiosk systems let the consumer take control or their orders. Traditional POS terminals are also available to improve over the counter transactions.
The acquisition comes shortly after Toast raised $250m in a funding round which values the company at $2.7bn.
Copyright © 2019 FinTech Global
