Provider of integrated payment and trading technology Layer4 Plans to acquire Givex to expand its customer base and expand its product offering to include gift cards and loyalty programs.
Shift4 has signed an agreement to acquire it and, subject to customary closing conditions, the transaction is expected to close by year-end, the companies said Monday (August 26). Press release.
“Givex has a significant presence around the world, which will dramatically increase Shift4’s overall customer base,” said Shift4 President Taylor Lauber the press release states. “At the same time, their gift card and loyalty solutions are unmatched and will provide significant value to our current customers by building closer relationships and enhancing our overall value proposition.”
Hundreds of thousands of companies use Shift4’s trade-enabling technology, the press release states.
The acquisition of Givex will add an additional 130,000 active locations in over 100 countries, along with gift card and eGift solutions, customizable loyalty programs and a point-of-sale (POS) system, the press release said.
CEO of Givex Don Gray The press release states: “By combining Shift4’s end-to-end payments solution with our value-added engagement services, we can offer an unparalleled package to both of our customer bases.”
The news came about two months after Shift4 acquired a majority stake in Vectron systemsa provider of POS systems for the restaurant and hotel industry in Europe.
The company announced on June 14 that the acquisition is expected to give it customers across Europe and a distribution network of around 300 POS resellers, as well as the opportunity to offer integrated payment services to Vectron’s customers and products.
On the same day, Shift4 announced that it had completed the previously announced acquisition of Revel Systemswhich has more than 18,000 retail locations in the United States and internationally, as well as direct sales and a dealer distribution network.
The company said Revel Systems’ merchant locations represent a payment opportunity of over $17 billionwhile The distribution network can be used to accelerate the distribution of Shift4 products. SkyTab Solutions at home and abroad.
In Monday’s press release, Lauber said of the planned acquisition of Givex: “Similar to other deals we have recently completed, this acquisition fits perfectly with our preferred use of capital: adding blue-chip merchants at low customer acquisition costs while providing additional benefits to our customer base.”
