Shift4 (NYSE:FOUR), a global firm focused on integrated payments and commerce technology, has completed its previously announced acquisition of Finaro, a cross-border ecommerce payments provider and fully licensed bank “with a large European presence.”
The completion of this acquisition “expands Shift4’s total addressable market both in terms of geographic coverage and industry verticals.”
Finaro 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.”
Shift4 CEO Jared Isaacman said:
“Finaro is highly complementary to Shift4 in terms of geographic coverage, capabilities, and addressable markets. It also empowers us to follow our existing strategic customers into new markets which represents a significant opportunity. By coupling Shift4’s card-present solutions with Finaro’s strengths in cross-border ecommerce, the combined organization offers a truly unified commerce experience that can compete with the biggest payments companies in the world.”
Mr. Isaacman added:
“With Finaro’s tech center based in Israel, we realize that this comes during an extremely difficult time for those employees and their loved ones. The ability to work together during these trying times is a testament to the talent and character of everyone on the Finaro team. We are proud to welcome them into our Shift4 family.”
This acquisition not only “augments Shift4’s ecommerce offering, but will also 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.”
Finaro will soon rebrand “as Shift4 to operate under a single brand reflecting the company’s unified global payments platform.”
Citi served “as exclusive financial advisor to Shift4 on its acquisition of Finaro.”
Keefe, Bruyette & Woods (KBW), “a Stifel Company, served as the financial advisor to Finaro.”