Fiserv and Amadeus IT Group Eyed for Shift4 Payments Acquisition:
- Shift4 Payments Potential Sale:
- Shift4 Payments, a Pennsylvania-based payment processing firm with a market value of around $7 billion, is reportedly exploring a sale.
- Final bids for the potential acquisition, with a market value of around $7 billion, are expected to arrive in the coming weeks.
- Potential Acquirers:
- Fiserv, a US fintech known for its M&A activity, is in the running to acquire Shift4 Payments.
- Spain’s Amadeus IT Group was also considered a contender, but the company refuted the rumors, stating it is “not interested in this transaction.”
- Shift4 Payments Overview:
- Shift4 Payments, founded in 1999 as United Bank Card, provides payment processing services and POS software and hardware to merchants.
- The company claims over 200,000 customers across North America, Europe, and Japan, processing over $200 billion annually across 3.5 billion transactions.
- Financial Performance:
- Shift4 Payments reported a “quarterly record” of $46.5 million in net income and $124.5 million in adjusted EBITDA at the end of Q3 2023.
- Strategic Exploration:
- CEO Jared Isaacman mentioned in a shareholder letter that Shift4 Payments is “actively exploring strategic opportunities and alternatives” to serve the company, employees, and shareholders best.
- Interest and Response:
- Jared Isaacman mentioned in an interview that “several parties” had shown interest in acquiring the company, with most interest from “fast-money hedge funds.”
- Fiserv has not commented on the Shift4 Payments potential acquisition, and Shift4 Payments states its policy is not to comment on market rumors.
