TORONTO, ON–Moneris Solutions Corporation, a Canadian leader in unified commerce, announced it has completed the acquisition of UEAT, a provider of innovative online ordering solutions for restaurateurs. The relationship originally started as a partnership where Moneris was the preferred payment processor for UEAT’s customers in Canada providing a unified commerce solution. This acquisition will further strengthen each company’s go-to-market alignment while maintaining UEAT’s integration flexibility.
As the shift to digital commerce has accelerated over the past few years, Moneris continues to identify and invest in value-added services to offer to Canadian business owners. Already familiar with UEAT, the acquisition is a natural fit and evolution of the ongoing relationship. By combining Moneris’ suite of digital offerings with UEAT’s online ordering solutions, restaurateurs will be able to easily engage in omni-channel ordering and sales, optimize capacity, access customer data, address the current labour shortage, and increase the overall lifetime value of repeat customers.
“The food service industry has changed dramatically over the past few years. Omni-channel ordering and sales is a must have feature for these businesses and Moneris’ acquisition of UEAT furthers our commitment to delivering innovative, digital-first solutions to our merchants,” said Angela Brown, President and CEO, Moneris. “We’re excited to welcome UEAT to the Moneris family and work with them to deliver market-leading solutions for restaurateurs across Canada and globally.”
UEAT will become a subsidiary of Moneris. The company will continue to operate with no changes to their structure, culture or management. A proud start-up from Québec, QC, UEAT will maintain its headquarters in the city and further Moneris’ already significant presence in the province. The acquisition is another example of Moneris’ strategic focus on delivering creative technology solutions that help Canadian businesses shift to, and grow in, the digital commerce space, giving them the opportunity to thrive in Canada and internationally.
“UEAT has carved an enviable reputation in the market unlike any other online ordering platform. We have built our robust restaurant technology on the latest best practices in UX and artificial intelligence. We offer a wide range of tools to help restaurateurs leverage online ordering to grow their business. And we provide simplified support and training for time-strapped restaurateurs to boost digital sales,” explained Martin Lafrance, President and Co-founder of UEAT. “We are thrilled to become a part of Moneris—all while continuing to expand our presence, creating more jobs in Québec, and stimulating our local economy.”
As both companies are privately held, the terms of the acquisition agreement were not disclosed.
Based in Canada, UEAT creates innovative online ordering solutions to help restaurant chains and independents across North America increase the overall lifetime value of their customers as well as their profit margins thanks to a range of online ordering and payment solutions based on artificial intelligence that personalizes each customer experience.
Moneris is Canada’s largest provider of innovative, unified solutions for mobile, online and in-store payments, processing more than one in three transactions. Serving businesses of every size and industry, Moneris offers hardware, software and solutions to help transform the way businesses grow and operate, in payments and beyond.