Shift4 acquires Canadian fintech Givex
Shift4, a US-based provider of payment processing solutions, has entered into a definitive agreement to acquire Canadian fintech Givex for an undisclosed amount.
Shift4 snaps up Givex for undisclosed sum
Founded in 1999 and headquartered in Toronto, Givex provides a range of customisable loyalty programmes, point-of-sale (POS) solutions, and gift card and e-gift offerings.
The firm currently operates in over 100 countries with its services deployed in more than 130,000 locations globally, serving major brands such as Nike, 7-Eleven, Marriott, and others.
Upon completion of the acquisition, anticipated in Q4 2024 pending customary closing conditions, Shift4 president Taylor Lauber says that Givex’s “considerable footprint around the world” will “dramatically” increase the firm’s customer base.
Lauber adds that the integration of Givex’s solutions into Shift4’s offerings will foster “stickier relationships” with clients, emphasising that this strategic transaction “aligns perfectly with how we like to deploy capital – adding blue-chip merchants at a low customer acquisition cost while delivering additional benefits to our customer base”.
Givex adds to a growing list of recent Shift4 acquisitions. In June, the Pennsylvania-based company snapped up a majority stake in German POS firm Vectron Systems AG, following its $575 million purchase of Israeli cross-border payments provider Finaro in 2022.
Earlier this year, Reuters reported that Shift4 was itself subject to potential acquisition interest, with Fiserv and Spain’s Amadeus IT Group reportedly among the interested parties.
