Diving certificate:
- Shift4 has paid 200 million Canadian dollars, or about 148 million US dollars, to buy gift card company Givex, a global company historically based in Toronto, according to a Press release issued Monday from the Canadian company.
- Givex is present in ten countries, including the UK, Brazil and China, and employs around 350 people, according to information. the company website. “Givex has a significant presence around the world, which will dramatically increase Shift4’s overall customer base,” said Shift4 President Taylor Lauber in the press release.
- The cash deal is expected to close in November and offers a 64% premium to Givex’s shares, which are traded on the Toronto Stock Exchange..
Diving insight:
Founded in 1999 and led by CEO Don Gray, Givex provides merchants with cloud-based software services for payments, customer engagement, including loyalty programs, and point-of-sale systems in omnichannel environments. It also offers data mining capabilities to its customers.
Givex’s annual revenue has increased 64% over the past four years to C$80.8 million (nearly $60 million), up from C$49.3 million in 2019.
In a separate press release In announcing the acquisition, Shift4 named some of Givex’s big customers, including clothing maker Nike, hotel chain Marriott and fast-food restaurant Wendy’s. A Shift4 spokesperson did not immediately respond to questions about how many Givex employees might be retained in the merger and how the company is handling a series of acquisitions this year.
Shift4 has been acquiring companies around the world for years. Trying to become a huge payment provider active in several areas of the payment market.
Earlier this year, Shift4 announced that Based in Atlanta Point-of-sale provider Revel Systems for $250 million. This transaction was completed in June. In the same month, Shift4 agreed to acquire a majority stake in the German software company Vectron Systems AGa provider of cash register systems for the catering and hotel industry on the European market.
The Shift4 acquisitions follow reports in February and March that Shift4 itself could be a takeover target. CEO Jared Isaacman had not expressed dismay that Shift4’s shares were trading lower than he would have liked, and the company conducted a review last year. of strategic alternativesincluding the possibility Privatization of the companySo far it has remained a listed company.
Shift4 is looking to grow in an increasingly competitive payments industry, particularly in its core business of serving merchants, from stadiums to restaurants to retail. toast, Adyen And Fiservs Cloverleaf all cover some aspects of this trading market and are also driving forces in the development of aggressive growth.
