CENTER VALLEY, Pa.--(BUSINESS WIRE)--Shift4 (NYSE:FOUR), the leader in integrated payments and commerce technology, has signed a definitive arrangement agreement (the "Arrangement Agreement") to acquire Givex Corp. (TSX: GIVX), a global provider of gift cards, loyalty programs and point-of-sale solutions.
The Arrangement Agreement is subject to customary closing conditions and the transaction is expected to be completed in the fourth quarter of this year.
With 130,000+ active locations across more than 100 countries, Givex serves a wide range of businesses in various industries, including notable names such as Nike, Marriott, 7/11, Wendy’s, Best Western, Texas Roadhouse, and many more. The company offers robust gift card and e-gift solutions as well as customizable loyalty programs, and a point-of-sale (POS) system for various business types, among other value-added services.
“Givex has a considerable footprint around the world which will dramatically increase Shift4’s overall customer base,” states Shift4 President Taylor Lauber. “At the same time, their gift card and loyalty solutions are second to none and will add significant value for our current customers, creating stickier relationships and enhancing our overall value proposition. Similar to other deals we have recently completed, this acquisition aligns perfectly with how we like to deploy capital – adding blue-chip merchants at a low customer acquisition cost while delivering additional benefits to our customer base.”
“The Givex team looks forward to joining the Shift4 family and bring our enterprise gift card capabilities and loyalty programs to hundreds of thousands of new customers,” says Don Gray, CEO of Givex. “By combining Shift4’s end-to-end payment solution with our value-added engagement services, we can deliver an unparalleled package to both of our customer bases.”
To learn more about Shift4, visit www.shift4.com.
Advisors
Goldman Sachs and Co. LLC acted as exclusive financial advisor and Bennet Jones LLP acted as legal counsel to Shift4.
Canaccord Genuity Corp. acted as exclusive financial advisor and Wildeboer Dellelce LLP acted as legal counsel to Givex. Torys LLP acted as legal counsel to the Special Committee.
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 acquisition of Givex Corp., including the completion of the acquisition, the benefits, synergies, efficiencies, and opportunities arising from the acquisition, 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 payments 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. For more information, visit shift4.com.
