Shift4 Acquires Givex for C$200 Million
Shift4 has acquired Givex, a leading global gift card and payment solutions provider, for C$200 million (approximately $148 million USD). The all-cash transaction, expected to close in November, includes a 64% premium on Givex’s shares traded on the Toronto Stock Exchange. This acquisition will significantly boost Shift4’s global presence and expand its customer base.
Givex, founded in 1999 and headquartered in Toronto, operates in ten countries, including the United Kingdom, Brazil, and China. The company employs about 350 people and offers cloud-based services such as payment solutions, customer engagement tools, and point-of-sale systems for omnichannel environments. Additionally, Givex provides data mining capabilities that help businesses make informed decisions.
Over the past four years, Givex has increased its annual revenue by 64%, growing from C$49.3 million in 2019 to C$80.8 million. Its impressive client list includes major brands like Nike, Marriott, and Wendy’s, highlighting its capacity to serve high-profile companies.
This acquisition aligns with Shift4’s strategy to strengthen its position in the global payments industry. Earlier this year, Shift4 completed the purchase of Revel Systems, a point-of-sale vendor based in Atlanta, for $250 million. The company also acquired a majority stake in Vectron Systems AG, a German point-of-sale provider serving the restaurant and hospitality sectors in Europe.
Shift4’s recent acquisitions reflect its drive to expand in a competitive market. Despite earlier speculations about a potential acquisition of Shift4 itself, the company remains publicly traded. CEO Jared Isaacman, who has voiced concerns about the company’s stock performance, continues to steer Shift4’s growth strategy.
Shift4 is intensifying its efforts in the competitive payments industry by enhancing services across sports, restaurants, and retail sectors. Leveraging its expanded capabilities, Shift4 aims to deliver comprehensive solutions and drive growth, positioning itself against competitors like Toast, Adyen, and Fiserv’s Clover.