Restaurant payments and software company Toast has acquired Delphi Display Systems, Boston-based Toast announced Thursday. The acquired business provides digital menu and drive-thru technology for quick-service restaurants.
Integrating Delphi “will enable us to offer drive-thru capability on our platform for the first time,” Toast CEO Chris Comparato said during the company’s fourth quarter earnings call Thursday. Adding the capabilities enhances Toast’s offerings for small and large quick-service restaurants, which have come to rely more on drive-thru services during the past few years, he said. Terms of the deal were not disclosed; a Toast spokesperson declined to comment on purchase price or Delphi’s employee headcount.
Toast’s revenue jumped 50%, to $769 million for the fourth quarter. Still, the company posted a net loss of $99 million for the quarter, compared to net income of $2 million in the year-earlier quarter, according to a press release.
Source: Payments Dive
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 