Shift4 (NYSE: FOUR), the payments and commerce technology provider, and Global Blue (NYSE: GB), the specialty payments and technology platform enabling “tax-free” shopping, dynamic currency conversion, and payments solutions to retail brands, have reportedly entered into a definitive agreement under which Shift4 will “acquire Global Blue for $7.50 per common share in cash, representing an 15% premium to Global Blue’s closing share price as of February 14, 2025, and a ~$2.5 billion enterprise value.”
Global Blue is a market participant at the “intersection of travel and luxury retail across Europe, Asia, and South America.”
Retail and hospitality locations reportedly rely on Global Blue’s tax-refund and currency conversion technology, “including the world’s luxury and premium retailers as well as other retail electronics, sportswear and fast fashion brands.”
Global Blue’s merchant solutions will be “added to Shift4’s global payments platform to deliver an end-to-end experience for its merchants.”
The addition of tax refund and currency conversion capabilities “enhances Shift4’s position as an innovative vendor and trusted partner.”
Global Blue is the two-sided network, connecting affluent international shoppers to its merchants and directly “engaging with international shoppers through its proprietary app, creating powerful network effects and allowing for further product innovation, such as loyalty, digital marketing, and more.”
As part of the transaction, Shift4 is announcing that current shareholders of Global Blue, Ant International and Tencent, are “exploring partnerships with Shift4 and intend to remain shareholders in the combined business.”
The partnership will build on their relationship with Global Blue and explore collaboration with Shift4 “on global e-commerce payment products.”
This will include the distribution of “unified gateway service Alipay+, which connects global merchants with 1.6 billion user accounts of over 35 digital payment methods across the world, and Weixin Pay, the most widely used mobile payment service in China, throughout the Shift4 ecosystem, including hospitality and venues.”
This partnership highlights these shareholders’ confidence in Shift4’s ability to become a global participant in “unified commerce solutions for retail merchants.”
Douglas Feagin, President of Ant International said:
“At Ant International we provide innovative payments, digitization and financial services to drive the development of global commerce and inclusive growth for SMEs. Our strategic investment in Shift4 is highly consistent with that mission.”
They added:
“We’ve been impressed by Shift4’s emergence as a global omni-channel payment partner in just the last few years and we’re excited to cement this relationship early in their international expansion journey. We extend our sincere gratitude to Jared Isaacman, Taylor Lauber and Thomas Farley for their visionary decision that made this strategic partnership possible. We look forward to future collaboration across a broader ecosystem co-created by our two companies to empower businesses of all sizes to thrive in the digital era.”
James Mitchell, Chief Strategy Officer and Senior Executive Vice President of Tencent, added:
“We are excited to continue supporting Global Blue under Shift4’s new ownership. With Jared Isaacman and Taylor Lauber at the helm, the company has become an impressive integrated payments and commerce technology leader. We are pleased to make a strategic investment in Shift4 and look forward to exploring partnership opportunities globally.”