Shift4 (NYSE: FOUR), an Allentown, PA-based company which specializes in integrated payments and commerce technology, completed the previously announced acquisition of Finaro, a Valletta, Malta-based cross-border ecommerce payments provider.
The amount of the deal was not disclosed.
The completion of this acquisition expands Shift4’s total addressable market both in terms of geographic coverage and industry verticals.
Finaro will soon rebrand as Shift4 to operate under a single brand reflecting the company’s unified global payments platform. The company will provide the global infrastructure and technology needed to drive Shift4’s international expansion into Europe and beyond. In addition to expanding Shift4’s geographic footprint, the acquisition will enhance the company’s cross-border ecommerce capabilities to deliver a unified global payments platform for merchants and partners around the world. This acquisition augments Shift4’s ecommerce offering, and enable Shift4 to soon offer its card-present technology across Europe – including the company’s SkyTab restaurant point-of-sale system and VenueNext stadium solution. Additionally, Shift4 has more than 500 software integrations and over 200,000 merchant customers, many of which have a multinational presence and provide immediate international opportunities that can now be unlocked as a result of this acquisition.
FinSMEs
26/10/2023