PAR Technology Corporation (NYSE:PAR), a leading provider of unified commerce solutions for the enterprise foodservice industry, today announced significant transactions involving the sale of its government operating segment.

The company has divested its wholly owned subsidiaries, PAR Government Systems Corporation (PGSC) and Rome Research Corporation (RRC), for a combined total of $102 million.

In a move finalized on June 7, 2024, PAR Technology completed the sale of 100% of PGSC's issued and outstanding equity interests to Booz Allen Hamilton (NYSE:BAH).

Additionally, PAR has entered a definitive acquisition agreement to sell RRC to NexTech Solutions Holdings (NTS).

According to the agreement, NTS will acquire 100% of the issued and outstanding equity interests of RRC.

The transaction is anticipated to close by the end of the second quarter of 2024.