Finaro (formerly Credorax), global cross-border payment provider and fully licensed bank by the Malta Financial Services Authority (MFSA), empowering international commerce through brilliantly simple payment solutions, today announced that it has entered into an agreement with Shift4 for its acquisition in a deal worth $575m USD (around €518m).
The combined offering of both companies is poised to create complimentary synergy of a global payments powerhouse with significant card-present and card-not-present expertise across a range of verticals serving large, complex merchants with unique solutions. Together, Finaro and Shift4 say they will be better positioned to provide merchants with the best-in-class global omni-channel payment solution and stand alongside some of the biggest players in the payments industry, including Adyen, Nuvei and WorldPay.
“This acquisition underscores our aggressive efforts to deliver a unified commerce experience across the world. This deal clearly shows our ability to support existing transformational and global customers like SpaceX Starlink & St. Jude Children’s Research Hospital,” said Shift4 CEO Jared Isaacman.
Finaro will provide the global infrastructure and cutting-edge technology needed to drive Shift4’s international ambitions to deliver a unified commerce experience. By integrating Finaro’s capabilities, Shift4 will be able to expand the company’s current services around the world, including its next-generation SkyTab POS solution, Shift4Shop eCommerce platform, and VenueNext stadium offering. Shift4 also has more than 425 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.
“This acquisition emphasizes that we have accomplished what we set out to achieve – building reliable payment processing capabilities that are truly limitless in reach and scale. Being able to apply this technology to SpaceX’s Starlink program and others similar in scope, while also offering our merchants and partners around the world a broader range of products and services, is the realization of this goal in the most concrete manner, and we are thrilled to join the Shift 4 team,” said Igal Rotem, CEO, Finaro.
*Credorax Bank Limited trading as Finaro, is a credit institution licensed by the Malta Financial Services Authority (MFSA).
For additional information on this acquisition, please visit the presentations section of Shift4’s Investor Relations website here.
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