- Shift4 Acquires Givex: US-based payment processor Shift4 has agreed to acquire Canadian fintech Givex for an undisclosed amount.
- About Givex: Founded in 1999 and headquartered in Toronto, Givex provides customizable loyalty programs, point-of-sale (POS) solutions, and gift card and e-gift offerings. It operates in over 100 countries and has services in more than 130,000 locations globally, serving brands like Nike, 7-Eleven, and Marriott.
- Expansion for Shift4: The acquisition is expected to significantly expand Shift4’s customer base worldwide. Shift4 president Taylor Lauber notes that integrating Givex’s solutions will enhance client relationships and align with their strategy of adding high-value merchants at low acquisition costs.
- Strategic Fit: The acquisition fits Shift4’s growth strategy of expanding its offerings and customer reach. It follows other recent acquisitions, including a majority stake in German POS firm Vectron Systems AG and the purchase of Israeli cross-border payments provider Finaro.
- Market Speculation: Earlier this year, Shift4 was reported to be a potential acquisition target itself, with companies like Fiserv and Amadeus IT Group showing interest.
