Dive Brief:
- Shift4 acquired a majority stake in the German company Vectron Systems, a supplier of point-of-sale systems, according to a Friday press release.
- Vectron provides POS systems to the restaurant and hospitality industries and reaches about 65,000 locations in Europe, equaling about $27 billion in payments volume, Shift4 said in the release. A spokesperson for the company didn’t immediately respond to a question about how much was paid.
- “Vectron will provide valuable local expertise, infrastructure, and the distribution necessary to meet the demand,” Shift4 CEO Jared Isaacman said in the release. “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.”
Dive Insight:
Allentown, Pennsylvania-based Shift4, which provides payments processing to restaurants, hotels and stadiums, is on an acquisition spree fresh off having its own business on the sales block.
Last month, the company said it would purchase Revel Systems for $250 million in cash, connecting it to 18,000 merchants through that company’s POS terminals processing about $17 billion in volume. In today’s release, Shift4 also said it has now completed the purchase of Revel, an Atlanta business that provides iPad-based POS systems to restaurants and specialty retailers.
Shift4 had been exploring strategic alternatives for its business, including a possible sale, since last year, but more recently went on the hunt for its own deals.
In the release today, Shift4 said it expects to be able to provide its integrated payments services to Vectron customers across Europe, including through that company’s network of approximately 300 POS resellers.
