PATENT OWNER
`PATENT OWNER
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`EXHIBIT 2068
`EXHIBIT 2068
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`http://www.hospitalitynet.org/news/4024163.html
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`INDUSTRY NEWS
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`9 August 2005
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`PAR Technology Corporation Announces Letter of Intent to
`Acquire PixelPoint Technologies; Acquisition to Enhance
`PAR's Expansion into Full Service Restaurants and
`International Markets
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`NEW HARTFORD, N.Y. PAR Technology Corporation (NYSE:PTC), a leading provider of integrated technology
`solutions to the hospitality industry, today announced that it has signed a letter of intent to acquire PixelPoint(R)
`Technologies, Inc. a privately held hospitality technology company.
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`The financial terms of the acquisition were not disclosed. The closing of the transaction is subject to customary
`closing conditions and is expected in the third quarter of 2005.
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`Based in Suburban Toronto, Canada, PixelPoint operates with a commitment to the development of state -of-the-art
`hospitality management software. PixelPoint is an innovative leader, developing and marketing POS, WebPOS,
`Wireless and Enterprise software suites for the table service restaurant industry. It currently ships software in multiple
`languages and to virtually every major economic center worldwide.
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`PixelPoint is a premier supplier to the hospitality industry with over 5,000 installations in full -service restaurants
`around the globe. PixelPoint's software products are reliable, flexible and easy to use. Their integrated software
`solution includes HeadOffice(R) enterprise management, PocketPOS(TM) a wireless application that is seamless to
`their connected capability and allows remote order taking in the dining room, Web-to-Go(TM), on-line ordering
`capability for customers via the internet, and MemberShare(TM) an in-store and enterprise level Loyalty and Gift Card
`information sharing application.
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`Under the terms of the agreement, PixelPoint Technologies will continue to be managed by its senior management
`team and will be backed up by PAR's products, worldwide infrastructure and resources.
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`"This acquisition is a great match for PAR Technology. Over the past 18 months we have been focused on expanding
`our reach into new hospitality markets for PAR with new product offerings that allow us to leverage our existing
`infrastructure," said John W. Sammon, PAR's Chairman and CEO. "PixelPoint has a great reputation as an
`innovator to go along with a strong and loyal client base. This acquisition gives us access to hospitality markets and
`geographical areas PAR has not yet penetrated, and also provides an opportunity to offer PixelPoint clients additional
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`PAR products and support services that will supplement the PixelPoint product lines. We look forward to continuing to
`support PixelPoint customers through PAR's service network and to facilitate PixelPoint's growth through resources
`now available to them as a result of the acquisition."
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`Sammon concluded, "This latest move is part of our global business growth strategy. The combination of PAR and
`PixelPoint is an ideal synergistic pairing that will combine the technological and personnel strengths of both
`companies."
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`Lino D'Angicco, Co-Founder and CEO of PixelPoint commented, "We are pleased to become part of a very
`successful organization, and even more so to be able to offer our PixelPoint customers the benefits of PAR's
`integrated solutions and services, their industry experience and financial strength. This proposed acquisition will
`certainly enable a much faster deployment of our products and services across the globe. We have experienced
`significant growth over the past few years and being part of the PAR family will propel our growth faster and more
`efficiently. The hospitality technology industry is at an exciting stage with interest in advanced products and services.
`We are clearly at the forefront of this technology."
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`Certain Company information in this release or by its spokespersons from time to time may contain forward -looking
`statements. Any statements in this document that do not describe historical facts are forward -looking statements.
`Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation
`Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties,
`including without limitation, delays in new product introduction, risks in technology development and
`commercialization, risks in product development and market acceptance of and demand for the Company's products,
`risks of downturns in economic conditions generally, and in the quick service sector of the restaurant market
`specifically, risks of intellectual property rights associated with competition and competitive pricing pressures, risks
`associated with foreign sales and high customer concentration, and other risks detailed in the Compan y's filings with
`the Securities and Exchange Commission.
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`ABOUT PAR TECHNOLOGY | PAR Technology Corporation is a leading provider of professional services and
`enterprise business intelligence technology solutions. PAR develops, markets and supports hardwar e and software
`products that improve the ability of hospitality business professionals to make timely, fact-based business decisions.
`The Company is the world's largest supplier of Point-of-Sale systems to the quick service restaurant market with over
`40,000 systems installed in more than 100 countries. PAR is also a leader in providing computer based system
`design and engineering services to the Department of Defense and other Federal Government Agencies. PAR
`Technology Corporation's stock is traded on the New York Stock Exchange under the symbol PTC. More information
`can be found on the Company's website at www.partech.com.