US-based payment processing company Shift has acquired a majority stake in Vectron Systems, a Germany-based supplier of point-of-sale (POS) systems to the hospitality sector.
The acquisition grants Shift4 access to Vectron’s European distribution network, which includes 300 POS resellers and services in 65,000 POS locations across the continent.
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The financial details of the acquisition have not been disclosed. However, Shift4 recognises the network as presenting a €25bn volume opportunity with currently minimal payment monetisation.
Shift4 revealed that it plans to increase its ownership of Vectron through a public tender offer, expected to conclude in June 2024.
This will be followed by a de-listing and formal integration process.
Shift4 CEO Jared Isaacman said: “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.
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By GlobalData“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 monetise payments for a large existing install base.”
For the Vectron acquisition, Shift4 engaged Perella Weinberg as financial advisor and Gleiss Lutz as legal advisor.
Shift4 has also finalised its previously announced acquisition of Revel Systems.
Revel operates more than 18,000 merchant locations globally, which Shift4 estimates to represent a $17bn plus payment opportunity.
The acquisition of Revel involved legal advice from Chiesa, Shahinian and Giantomasi.
