Shift4, the global fintech for integrated payments and commerce technology, has acquired a majority stake in Vectron Systems AG, one of Europe's largest providers of point-of-sale (POS) systems for the restaurant and hospitality verticals.
Headquartered in Germany, Vectron has some 65,000 POS across Europe, representing some €25 billion in volume opportunities with minimal payment monetization. Shift4 will acquire additional ownership of Vectron through a tender offer expected to be completed within the next month, with a delisting and formal integration process to follow shortly after that.
The acquisition will provide Shift4 with a broad European customer presence and a distribution network of 300 point-of-sale distributors. Shift4 will be able to add its integrated payment services to Vectron's existing customers and products while providing the sales force with an attractive all-in-one POS and payment solution unrivaled in Europe.
"Shift4 was at the forefront of the convergence between software and payments in the restaurant and hospitality industries in the United States. We see incredible demand for a similar all-in-one solution across Europe," says Jared Isaacman, CEO of Shift4. "With our integrated payments offering and SkyTab, we have the best solution at the right price.
Vectron will bring valuable local expertise, infrastructure, and distribution to meet the demand. This acquisition fits perfectly into Shift4's playbook: it allows us to unlock synergies, expand our distribution, and monetize payments from a large existing install base."
In addition to the Vectron acquisition, Shift4 has completed its previously announced acquisition of Revel Systems. Revel has more than 18,000 merchant locations in the U.S. and the rest of the world, representing a payment opportunity of more than $17 billion. Revel also has a direct sales and distribution network of distributors that can be leveraged to accelerate SkyTab distribution domestically and abroad.
Shift4 retained Perella Weinberg as financial advisor Gleiss-Lutz as legal counsel for acquiring Vectron, and CSG Law as legal counsel for acquiring Revel.
