Wednesday , June 19, 2024

Mergers & Acquisitions

June, 2024

  • 14 June

    Shift4 Closes Revel Deal and other Digital Transactions News briefs from 6/14/24

    Shift4 Payments Inc. announced it has acquired a majority interest in Germany-based point-of-sale provider Vectron Systems AG in a transaction previously reported by Digital Transactions News. Vectron serves roughly 65,000 merchant locations throughout Europe. Shift4 also said it has closed on its previously announced deal for Revel Systems, a point-of-sale technology company serving more than …

May, 2024

  • 21 May

    Revenue Down 33% and other Digital Transactions News briefs from 5/21/24

    Presto Automation Inc., a provider of payments technology for quick-serve restaurants, said its March-quarter revenue dropped 33% year-over-year to $4.45 million. Revenue for the year ending March 31 also fell by one-third, to $14.2 million. The company said it will wind down its pay-at-table product to concentrate on its artificial-intelligence …

  • 14 May

    Square’s Restaurant Boosts and other Digital Transactions News briefs from 5/14/24

    Block Inc.’s Square point-of-sale technology unit announced a slew of restaurant initiatives, including a link with distributor Performance Foodservice to market Square to 125,000 U.S. and Canada-based clients; integrations with dining-technology providers; links to restaurant associations in Illinois, California, and New York state; and a recommendation engine based on machine learning. Square …

  • 13 May

    Eye on Restaurants: Digital POS Hasn’t Changed Tipping Much, Survey Says; Shift4 Acquires Revel

    More Americans are being asked to tip, but it doesn’t seem to have much positive impact for some workers, especially those employed by restaurants. Only 29% of these workers say their tips have increased in the past year, according to the “Beyond Gratuity: Perspective of Restaurant Staff Tipping Practices” report …

  • 10 May

    Growth in Payments Helps Boost Middle-Market Processors, Too

    Payments processors haven’t had it easy in recent years, what with a pandemic-led shift to e-commerce on the part of brick-and-mortar merchants, a deluge of new and more complicated point-of-sale technologies, and growth by industry giants like Fiserv Inc. and Global Payments Inc. But many of the midsize players grew, …

  • 9 May

    Shift4 Addresses Sale Rumors, Lays Out Strategic Plan During Q1 Earnings Call

    After months of speculation that Shift Payments Inc. was an acquisition target, company founder and chief executive and founder Jared Isaacman confirmed Thursday the company had indeed received multiple offers. The acknowledgment came at the outset of Shift4’s first quarter earnings call early Thursday. Despite the offers being “materially higher” …

  • 9 May

    Lightspeed Tees up in Myrtle Beach and other Digital Transactions News briefs from 5/9/24

    Lightspeed Commerce Inc. announced it is supplying payments capability for the Myrtle Beach Area Golf Course Owners Association in South Carolina, which includes more than 70 golf courses. The Western Union Co. resumed service between the United States and Cuba after technical issues in January disrupted it. Payments provider Priority Technology Holdings Inc. reported $205.7 million …

  • 3 May

    Accel-KKR Picks up Accertify and other Digital Transactions News briefs from 5/3/24

    Accertify, which provides fraud prevention, chargeback management, account protection, and gateway services, said private equity firm Accel-KKR completed the acquisition of the company from American Express Co., which it acquired in 2010. Terms were not disclosed. The U.S. Payments Forum announced a white paper exploring the links between connected cars and contextual …

April, 2024

  • 26 April

    Swallowing Discover Will Energize Competition, Not Restrict It, Cap One’s CEO Argues

    Capital One Corp.’s chief executive late Thursday struck back against concerns that the banking giant’s proposed acquisition of Discover Financial Services will dampen competition in banking and payments. “The facts will show there are no barriers to entry in the credit card business,” declared Richard Fairbank as he fielded questions …

  • 23 April

    A Fast-Expanding Clover Provides a Hot Engine for Growth at Fiserv

    Fiserv Inc. has been an acquisitive payments processor in recent years, but it’s a deal the company concluded nearly five years ago that is energizing growth at the company. Fiserv’s $22-billion acquisition of First Data Corp. in the summer of 2019 brought Clover, a set of point-of-sale technologies that today …

Digital Transactions