Technology

SpotOn acquires Appetize

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September 13, 2021

SpotOn, a software and payments company, has announced the acquisition of Appetize, an enterprise commerce platform for food, beverage and retail.

"This investment enables SpotOn to significantly increase its total addressable market, with an end-to-end platform for restaurants and retail business of all types and sizes," David George, general partner at Andreessen Horowitz, said in a press release. "The acquisition is a natural fit given the companies' complementary technology and shared focus on market-leading customer support."

Following the acquisition, SpotOn is positioned to expand its reach to serve the middle market. SpotOn has hundreds of account executives embedded in communities across the country who will bring Appetize's world-class technology to thousands of regional entertainment centers, stadiums, colleges, and universities in these communities. according to the press release.

"From our first meetings with Appetize, we knew they had great people and a great product, and the more we worked together it became clear that our two companies were stronger together," Matt Hyman, Co-CEO of SpotOn, said in the release. "We are combining our complementary technologies, extending our market coverage and retaining our shared passion for great service and support for our clients. SpotOn is quickly becoming a part of everyday life for consumers across the country whenever they shop, dine, or visit a stadium or a college campus."

"Appetize has built a truly special team and product that is trusted by some of the most iconic brands in hospitality, from Yankee Stadium to LSU to the San Diego Zoo. Likewise, SpotOn has earned the trust of tens of thousands of small businesses and independent restaurants with their technology and team," Max Roper, Appetize CEO, who will continue running the business as part of SpotOn, said in the release. "This acquisition enables our combined team to accelerate investments into our core product and client base, while expanding to fill a void in the mid-market space. By bringing the two companies together, businesses from a major league ballpark to a local clothing boutique will have access to modern, intuitive, cloud-based technology that delivers exceptional customer experiences from one trusted provider."

The transaction is expected to close by mid-September.