Shift4 snaps up stake in German POS company Vectron [Yahoo! Finance]
Perella Weinberg Partners - Class A (PWP)
Company Research
Source: Yahoo! Finance
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. 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. “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, infrastr
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