FOR IMMEDIATE RELEASE  |  AUGUST 6, 2020

Mad Mobile to Acquire CAKE, a Sysco Company

The acquisition will accelerate Mad Mobile’s mobile-first vision for restaurants and add a significant customer base.

TAMPA, FL. – Mad Mobile, Inc., a leading mobile platform for enterprise restaurants and retailers, today announced it has signed an agreement to acquire CAKE, a restaurant technology company based in Silicon Valley and owned by Sysco Corporation (NYSE: SYY). The CAKE Point-of-Sale (POS) solution serves more than 5,000 restaurant locations today. The acquisition is the culmination of a 6-year partnership between Sysco and Mad Mobile that started with the launch of a Sysco mobile ordering platform.

The transaction will accelerate Mad Mobile’s vision to deliver a next-gen POS solution featuring a modern architecture and mobile capabilities. Mad Mobile will combine its mobile platform with CAKE technology to deliver a mobile-first POS solution for restaurants of all types. COVID-19 has magnified the importance for restaurants to quickly adopt mobile technology to meet the changing needs of guests and employees. The expanded CAKE offering will feature new modules such as Mobile Ordering, Contactless Payment, and Curbside Pickup.

“We believe this transaction provides an excellent opportunity for CAKE to accelerate its evolution into a mobile-first platform.”

-MICHAEL FOSTER, SYSCO CIO

“We believe this transaction provides an excellent opportunity for CAKE to accelerate its evolution into a mobile-first platform.”

-MICHAEL FOSTER, SYSCO CIO

“We are excited about the future of CAKE technology,” said Michael Foster, Sysco’s Chief Information and Technology Officer. “Mad Mobile shares our passion for the restaurant experience. We believe this transaction provides an excellent opportunity for CAKE to accelerate its evolution into a mobile-first platform supporting the unique needs of restaurant businesses.”

“There is an enormous opportunity to modernize the restaurant experience with mobile.”

-BRUCE BENNETT, MADMOBILE CEO

“There is an enormous opportunity to modernize the restaurant experience with mobile.”

BRUCE BENNETT, MADMOBILE CEO

The transaction will accelerate Mad Mobile’s vision to deliver a next-gen POS solution featuring a modern architecture and mobile capabilities. Mad Mobile will combine its mobile platform with CAKE technology to deliver a mobile-first POS solution for restaurants of all types. COVID-19 has magnified the importance for restaurants to quickly adopt mobile technology to meet the changing needs of guests and employees. The expanded CAKE offering will feature new modules such as Mobile Ordering, Contactless Payment, and Curbside Pickup.

Mad Mobile expects to complete the acquisition at the beginning of Q3 2020. Financial terms of the deal were not disclosed.

About Mad Mobile

Mad Mobile is an Apple Mobility Partner for enterprise retail and restaurants. Mad Mobile’sunique technology modernizes legacy POS systems to launch mobile-first experiences for employees and customers including Mobile POS, Mobile Ordering, Self-Checkout, ContactlessPayment, and Curbside Pickup. Offices in Tampa (HQ) and Buenos Aires. For more information, please visit www.MadMobile.com or follow @MadMobile on Twitter.

About CAKE

Based in Silicon Valley, CAKE is a Sysco company offering restaurant-specific technology solutions. CAKE’s platform seamlessly integrates front and back of house restaurant operations, allowing restaurant owners and operators to achieve unparalleled visibility into and control over their point of sale, table and waitlist management, menu pricing, guest preference tracking, reservations systems, inventory and payroll. CAKE has offices in Silicon Valley, California, Austin, Texas, and Sri Lanka. Learn more at www.trycake.com.

About Sysco

Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. The company operates more than 320 distribution facilities worldwide and serves more than 650,000 customer locations. For fiscal 2019 that ended June 29, 2019, the company generated sales of more than$60 billion. For more information, visit www.sysco.com or connect with Sysco on Twitter at twitter.com/Sysco.