Groupon sells its Breadcrumb POS business to Upserve
Groupon has sold its restaurant point-of-sale software platform Breadcrumb to Upserve, a Rhode Island-based startup that also makes software for the restaurant industry.
Exact terms of the deal were not disclosed, but Groupon is gaining an undisclosed, minority stake in Upserve in exchange for all Breadcrumb assets.
Upserve says Breadcrumb is a complement to its existing restaurant software portfolio. The two companies began what they called an "informal commercial partnership" in late 2015, which means their systems were already integrated to some extent.
Groupon originally acquired Breadcrumb in 2012 but has been trying to offload the business for the past year as it attempts to rekindle its struggling deals business. In March, the Chicago-based company cut its number of staff working on Breadcrumb by almost a third.
Still, it's not every day that a public company sells a piece of its software to a startup.
As for Upserve, the seven-year-old software startup says buying Breadcrumb will create the industry's largest cloud-based restaurant management platform, serving more than 6,000 restaurants who use Upserve to manage more than 20 million meals per month.
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