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Restaurant-Tech Startup Presto Nearing $1 Billion SPAC Merger to Go Public

Restaurant-Tech Startup Presto Nearing  Billion SPAC Merger to Go Public

Presto is close to an agreement to combine with a special-purpose acquisition company and go public in a merger that would value the restaurant-technology startup at about $1 billion, people familiar with the matter said.

Founded in 2008 at the Massachusetts Institute of Technology, Presto offers several different technologies that it says automate restaurants and improve the dining experience. It is known for its kiosks and tablets that let guests order and pay directly at tables and uses speech recognition so customers can order by talking to a device at drive-throughs and other settings. It also uses computer vision and analytics to help eateries optimize operations.

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