SoundHound AI has announced that it is acquiring SYNQ3 Restaurant Solutions, a voice AI provider for the restaurant industry, expanding its market presence to over 10,000 signed locations and expediting the implementation of generative AI capabilities within the industry.
Through this acquisition, SYNQ3 will contribute a portfolio of major brands across drive-thru, fast casual, casual segments, and convenience stores, adding to SoundHound's rapidly growing customer base.
Some of SoundHound's recent partnerships include Samsung Electronics, White Castle, and Olo, transforming food ordering experiences with voice-activated solutions.
“In joining forces, SoundHound AI and SYNQ3 will be the go-to standard for cutting-edge voice and conversational AI solutions for the restaurant industry. Restaurant operators are turning to technology en masse, and voice AI is now playing a key role in helping them drive sales, reduce costs, and alleviate the burden of increasing demand on their employees,” said Keyvan Mohajer, CEO and Co-Founder of SoundHound AI.
Bringing together AI innovation and industry expertise
This collaboration brings together SoundHound's AI innovation and SYNQ3's extensive industry expertise and established relationships. The SYNQ3 team, led by CEO and Co-Founder Steve Bigari, a former McDonald’s operator, brings valuable experience in restaurant sales, product development, and customer service, with a growing emphasis on AI.
The merger between SoundHound AI and SYNQ3 Restaurant Solutions brings immediate business advantages, including a combined pipeline encompassing over 100,000 restaurant locations, with more than 10,000 already signed agreements, significantly expanding the potential market reach for SoundHound.
SYNQ3's established customer base will now benefit from a comprehensive suite of AI products, including Dynamic Interaction, Smart Answering, and Employee Assist, providing additional value-added services.
Furthermore, the merger accelerates SoundHound's monetization strategy by facilitating voice-enabled food and drink ordering in millions of cars, TVs, and Internet of Things (IoT) devices.
“SoundHound AI and SYNQ3 will provide our restaurant partners with a formidable voice solution that we believe significantly surpasses the competition. Our businesses are highly complementary, with both AI and industry expertise at the core of who we are. Together, we plan to capitalize on those synergies to provide best-in-class AI ordering methodologies backed by the largest library of restaurant AI orders in the world. This will power a rapid acceleration of our growth,” said Steve Bigari, CEO and Co-Founder of SYNQ3.
SoundHound is set to acquire SYNQ3 for a total payment of $25 million.
