A sale has shaken up a wide-reaching network for two parties as we continue to see the foodservice space shift. Sysco announced that it has sold its CAKE Point-of-Sale (POS) solution, a technology that serves more than 5,000 restaurant locations today, to Mad Mobile.
The transaction, Mad Mobile noted in a press release, will accelerate the company’s vision to deliver a next-gen POS solution featuring modern architecture and mobile capabilities.
“We are excited about the future of CAKE technology. Mad Mobile has been a great partner of Sysco for six years, and they share our passion for the restaurant experience,” Michael Foster, Chief Information and Technology Officer for Sysco, said. “This transaction allows Sysco to focus our efforts on our digital transformation, including our e-commerce platform, and provides an excellent opportunity for CAKE to accelerate its evolution into a mobile-first platform supporting the unique needs of restaurant businesses.”
Mad Mobile plans to fully support CAKE’s existing customer base while expanding the CAKE offering to include new modules such as Mobile Ordering, Contactless Payment, and Curbside Pickup.
“There is an enormous opportunity to modernize the restaurant experience with mobile. We have great partners who are helping us do it,” Bruce Bennett, Chief Executive Officer of Mad Mobile, commented. “The CAKE acquisition comes with top-notch technology, a large customer base, and employees who are ready to help us achieve our vision. This is a big day for Mad Mobile.”
COVID-19 has magnified the importance for restaurants to quickly adopt mobile technology to meet the changing needs of guests and employees. Mad Mobile will combine its mobile platform with CAKE technology to deliver a mobile-first POS solution for restaurants of all types.
Financial terms of the transaction, which is expected to close by September 30, 2020, were not disclosed.
How will the foodservice landscape continue to evolve as consumers continue to utilize more and more mobile opportunities? Rest assured that we will continue to watch and report here at Deli Market News.