Shift4 Acquires Majority Stake of German Point-of-Sale Company Vectron Systems AG and Completes Previously Announced Acquisition of Revel Systems
June 14 2024 - 8:00AM
Business Wire
Shift4 has acquired a majority stake in Vectron, which will
provide Shift4 with ~65,000 POS locations across Europe, local
product expertise, and a European distribution network of ~300 POS
resellers. The company has also completed its previously announced
acquisition of Revel Systems, which will provide Shift4
approximately 18,000+ merchant locations and an estimated $17B
payment opportunity.
Shift4, the leader in integrated payments and commerce
technology, has acquired a majority stake in Vectron Systems AG,
one of the largest European suppliers of point-of-sale (POS)
systems to the restaurant and hospitality verticals. Based in
Germany, Vectron has ~65,000 POS locations across Europe,
representing ~€25 billion in volume opportunity with minimal
payment monetization today. Shift4 is expected to acquire
additional ownership of Vectron through a public tender offer that
is expected to conclude within the next month, with a de-listing
and formal integration process to occur shortly thereafter.
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Shift4 Acquires Majority Stake in Vectron
and Completes Acquisition of Revel Systems (Graphic: Business
Wire)
The acquisition is expected to provide Shift4 with an expansive
customer footprint across Europe as well as a distribution network
of ~300 POS resellers. As a result of the acquisition, Shift4
believes it will be able to add its integrated payment services to
current Vectron customers and products, while also empowering the
sales force with a compelling all-in-one POS and payments solution
unrivaled in Europe.
“Shift4 was at the forefront of the convergence between software
and payments in the restaurant and hospitality verticals in the US.
We see an incredible amount of demand for a similar all-in-one
solution across Europe,” states Shift4 CEO Jared Isaacman. “With
our integrated payments and SkyTab offering, we believe we have the
best solution at the right price point. Vectron will provide
valuable local expertise, infrastructure, and the distribution
necessary to meet the demand. This acquisition is right out of the
Shift4 playbook – enabling us to unlock synergies, expand our
distribution, and monetize payments for a large existing install
base.”
In addition to the acquisition of Vectron, Shift4 has also
completed its previously announced acquisition of Revel Systems.
Revel has over 18,000 merchant locations across the United States
and internationally which Shift4 estimates represents a $17B+
payment opportunity. Revel also has a direct sales and dealer
distribution network which Shift4 believes can be leveraged to
accelerate SkyTab distribution both domestically and abroad. Please
reference Shift4’s Q1 2024 Shareholder Letter for more information
on the Revel acquisition.
Shift4 retained Perella Weinberg as financial advisor and
Gleiss-Lutz as legal advisor on the acquisition of Vectron, and
Chiesa, Shahinian, and Giantomasi as legal advisor on the
acquisition of Revel.
To learn more about Shift4, visit www.shift4.com. For more
information regarding the Vectron acquisition, please click here or
visit our website at
investors.shift4.com/news-events/presentations.
Forward-Looking Statements This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Shift4 intends
such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements
contained in this press release that do not relate to matters of
historical fact should be considered forward-looking statements,
including statements regarding our expectations associated with the
acquisitions of Vectron Systems AG and Revel Systems, including the
completion of the acquisitions, the benefits, synergies,
efficiencies, and opportunities arising from the acquisitions, and
the timing of any of the foregoing. These statements are neither
promises nor guarantees, but involve known and unknown risks,
uncertainties and other important factors that may cause our actual
results, performance or achievements to be materially different
from any futures results, performance or achievements expressed or
implied by the forward-looking statements, including, but not
limited to the substantial and increasingly intense competition
worldwide in the financial services, payments and payment
technology industries; our ability to continue to expand our share
of the existing payment processing markets or expand into new
markets; additional risks associated with our expansion into
international operations, including compliance with and changes in
foreign governmental policies, as well as exposure to foreign
exchange rates; and our ability to integrate and interoperate our
services and products with a variety of operating systems,
software, devices, and web browsers, and the other important
factors discussed under the caption “Risk Factors” in Part I, Item
1A in our Annual Report on Form 10-K for the year ended December
31, 2023 and our other filings with the SEC. Any such
forward-looking statements represent management’s expectations as
of the date of this press release. While we may elect to update
such forward-looking statements at some point in the future, we
disclaim any obligation to do so, even if subsequent events cause
our views to change.
About Shift4 Shift4 (NYSE: FOUR) is boldly
redefining commerce by simplifying complex payment ecosystems
across the world. As the leader in commerce-enabling technology,
Shift4 powers billions of transactions annually for hundreds of
thousands of businesses in virtually every industry.
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version on businesswire.com: https://www.businesswire.com/news/home/20240614174804/en/
MEDIA: Nate Hirshberg SVP, Marketing Shift4
nhirshberg@shift4.com
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