Posted: September 13, 2024 | Updated: January 10, 2026 at 9:31 PM
Shift4, a leading company in integrated payments and commerce technology, has entered into a definitive agreement to acquire Givex Corp., a global provider of gift cards, loyalty programs, and point-of-sale (POS) solutions, in a deal valued at C$200 million (approximately USD 148 million). The acquisition will take Givex private and be executed as an all-cash transaction.
Givex, founded in 1999 and based in Toronto, has become a prominent provider of cloud-based payment systems, customer engagement tools, and omnichannel POS solutions. Operating in 10 countries, including Brazil, China, and the United Kingdom, Givex serves major brands like Marriott, Nike, and Wendy’s.
The agreement is subject to standard closing conditions, with the transaction expected to be finalized in the fourth quarter of this year. This acquisition aligns with Shift4’s strategy of expanding its global payments network by acquiring companies with complementary offerings and strong customer bases.
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Founded in 1999 and led by CEO Don Gray, Givex specializes in providing merchants with cloud-based software solutions for payments, customer engagement (including loyalty programs), and omnichannel point-of-sale (POS) systems. The company also offers data mining capabilities to help clients gain valuable insights from their operations. Operating in 130,000 locations across ten countries, Givex has demonstrated strong growth, reporting annual revenue of C$80.8 million in the most recent period, a significant increase from C$49.3 million in 2019.
Shift4 President Taylor Lauber highlighted Givex’s extensive global presence, noting that its acquisition will significantly expand Shift4’s customer base. He also emphasized the strength of Givex’s gift card and loyalty solutions, which will enhance Shift4’s offerings, foster deeper customer relationships, and strengthen the overall value proposition for clients.
Taylor mentioned that, like their other recent acquisitions, this deal is a strategic fit for their capital allocation strategy, which focuses on acquiring premier merchants inexpensively and enhancing customer value.
Shift4, a publicly traded company with a market valuation of approximately $7 billion, has recently been the subject of acquisition rumors. After putting itself on the market in December, the company received multiple offers but rejected them due to disagreements over valuation.
In recent months, Shift4 has been actively pursuing its acquisitions. It secured a majority stake in European hospitality POS provider Vectron and completed its acquisition of U.S.-based Revel Systems in June. Commenting on the Givex acquisition, Lauber noted that, like their recent deals, this transaction aligns with Shift4’s strategy of deploying capital to acquire blue-chip merchants at a low customer acquisition cost while offering enhanced benefits to its existing customer base.
In a separate press release regarding the acquisition, Shift4 highlighted some of Givex’s major clients, including global brands such as Marriott, Nike, Wendy’s, 7/11, Texas Roadhouse, Best Western, and many more.
Don Gray, CEO of Givex, expressed enthusiasm about the merger with Shift4, highlighting the opportunity to introduce their enterprise gift card solutions and loyalty programs to a vast new customer pool. He noted that integrating Shift4’s comprehensive payment solutions with Givex’s engagement services will provide unmatched offerings to the customers of both companies.
In the agreed acquisition of Givex by Shift4 Payments, Givex shareholders are set to receive C$1.50 per share in cash. The purchase price pegs Givex’s value at around C$200 million, marking a 64% premium relative to the 20-day volume-weighted average price of Givex’s shares before the announcement. Furthermore, Givex shareholders who possess in-the-money options or warrants will be compensated at an equivalent rate, and any outstanding options or warrants will be terminated.
The acquisition process will proceed through a statutory plan of arrangement according to the Business Corporations Act (Ontario). It will require the green light from both the Ontario Superior Court of Justice and Givex’s shareholders. Approval must come from at least two-thirds of the votes at a special shareholder meeting. Additionally, a majority approval may be needed, excluding votes from specific shareholders as per MI 61-101 regulations.
The arrangement includes typical provisions for such agreements, including a no-solicitation clause and a C$7.75 million breakup fee that Shift4 will receive if the agreement is terminated under certain conditions. Shift4 also reserves the right to match any better offers that may appear.
The board of directors of Givex, guided by an independent fairness opinion from Canaccord Genuity, has unanimously endorsed the agreement, with significant shareholders holding 57.4% of Givex’s shares already backing the transaction. The acquisition is expected to be finalized by November 2024, pending approvals and other standard conditions. Following completion, Givex’s shares will be removed from the Toronto Stock Exchange, and the company will aim to discontinue its status as a reporting issuer by Canadian securities regulations.
This deal gives Givex shareholders immediate cash liquidity and a definitive exit, securing a substantial premium on their shares and sidestepping the uncertainties of Givex’s future business trajectory.
Shift4 has been on an acquisition spree as part of its strategy to become a dominant player in the payments industry and expand into various market segments. Earlier this year, the company announced its purchase of Atlanta-based point-of-sale vendor Revel Systems for $250 million, a deal finalized in June. Around the same time, Shift4 also acquired a majority stake in Vectron Systems AG, a German software company specializing in point-of-sale systems for Europe’s restaurant and hospitality sectors.
These acquisitions come amid earlier reports suggesting that Shift4 could be an acquisition target. CEO Jared Isaacman has been vocal about his disappointment with the company’s stock performance, which led to a strategic review last year, including the option of taking the company private. Despite the speculation, Shift4 has continued to operate as a publicly traded entity.
As the payments industry grows increasingly competitive, Shift4 is positioning itself to expand its footprint, particularly in its core market of serving merchants across sectors like stadiums, restaurants, and retail. Competitors like Adyen, Toast, and Fiserv’s Clover also aggressively target various parts of this merchant-focused market, fueling intense competition.
Goldman Sachs & Co. LLC served as the exclusive financial advisor to Shift4 in acquiring Givex, a global provider of gift cards, loyalty programs, and point-of-sale solutions, with Bennett Jones LLP providing legal counsel. On the Givex side, Canaccord Genuity Corp. acted as the exclusive financial advisor and Wildeboer Dellelce LLP offered legal counsel. Torys LLP also served as legal counsel to the Special Committee, representing Givex’s interests throughout the transaction.
This strategic acquisition is expected to significantly expand Shift4’s customer base, adding over 130,000 locations in more than 100 countries and integrating Givex’s advanced technology solutions and customer engagement tools into Shift4’s platform.
Shift4 Payments, Inc. delivers a comprehensive range of software and payment processing services domestically and globally. The company’s offerings encompass an all-in-one payment platform that supports diverse payment modes, including debit, credit, contactless, and mobile payments, along with QR Pay and various alternative payment options.
Shift4 Payments also develops specialized technology solutions to enhance business scale and operational efficiencies. These include SkyTab POS, a versatile point-of-sale (POS) system; VenueNext, a suite for mobile ordering and digital transactions; Lighthouse, a cloud-based business intelligence hub; and SkyTab Mobile, which supports mobile dining and feedback management.
Additionally, the company operates The Giving Block, a platform for cryptocurrency donations, and Shift4Shop, an ecommerce system for managing online stores. Its Marketplace facilitates integration with third-party applications and manages loyalty and inventory systems. Shift4 Payments also provides a range of services, including payment security, risk management, merchant services, and compliance. Established in 1999, the company is based in Center Valley, Pennsylvania, and sells its products via a mix of software vendors, internal teams, and resellers.
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Givex Corp. delivers integrated solutions across multiple channels, specializing in gift cards, loyalty programs, payment processing, and cloud-based POS systems. Operating in regions such as the US, Canada, the UK, Australia, and beyond, the company’s offerings include processing and managing gift card transactions, designing points-based or tailored loyalty schemes and providing self-service kiosks for streamlined shopping and payment processes. Givex Corp. also offers data analytics services that transform complex business data into clear, actionable insights through digital dashboards, Uptix Ticketing, enhancing the spectator experience with advanced ticketing solutions, and GivexPay, a robust payment processing platform.
The company’s GivexPOS system also supports quick-service restaurants by expediting order processing to minimize wait times, offers specialized POS systems for restaurant and retail environments, and manages high-volume sales at event venues. Originally named Givex Information Technology Group Limited, the company rebranded to Givex Corp. in November 2022. Founded in 1999, Givex is based in Toronto, Canada.
Shift4’s acquisition of Givex Corp. represents a significant strategic move to enhance its position in the global payments and commerce technology market. By integrating Givex’s advanced solutions for gift cards, loyalty programs, and point-of-sale systems, Shift4 is set to broaden its service offerings and expand its customer base across over 130,000 locations worldwide.
The all-cash transaction, valued at C$200 million, provides Givex shareholders with immediate liquidity and aligns with Shift4’s ongoing strategy of acquiring complementary companies to drive growth and strengthen its market presence. With both companies poised to benefit from the merger, the deal is expected to close by the end of the year, marking another milestone in Shift4’s ambitious expansion efforts.
