Fiserv And Amédée IT Group would be competing to acquire Shift4 Paymentswho led a sales process.
The two main competitors are preparing to submit their final offers in the coming weeks for the payment processor, which has a market value of nearly $7 billion, Reuters reported Wednesday, February 28, citing anonymous sources.
The process is ongoing and an agreement is not certain, according to the report.
Contacted by PYMNTS, a Fiserv spokesperson declined to comment on the report.
In an emailed statement to PYMNTS, an Amadeus spokesperson said the company was “aware of rumors regarding Amadeus and Shift4.” Amadeus is not interested in this transaction.
It was reported in December that Global Payments was considering a acquisition from Shift4, but a spokesperson for Global Payments denied this information.
Asked about a Bloomberg report Regarding a potential deal, a Global Payments spokesperson told PYMNTS: “While we do not generally respond to market speculation or rumors, we are not in discussions with Shift4 regarding any type of strategic transaction .”
Shift4, based in Center Valley, Pa., processes more than $200 billion in annual transactions for more than 200,000 clients, including restaurants, casinos, hotels and sports teams like the San Francisco 49ers, according to the report .
The company saw a surge in its shares, which jumped as much as 13% on news of the potential acquisition, according to the report.
Payment processors like Shift4 boomed during the pandemic as customers turned to digital payment methods, according to the report. Despite increased competition and high inflation, Shift4 announced 2024 earnings and revenue guidance that beat market expectations.
If the Shift4 acquisition is successful, it would be the latest in a series of deals in the financial services sector, the report said. These include Capital oneIt is agreement acquire Discover; NasdaqIt is purchase of Adenza; And GTCRIt is acquisition of a majority stake in Global payment.
Shift4’s competitors are looking to add this company’s capabilities to their own.
Fiserva technology provider for banks and merchants, acquired First Data for $22 billion in 2019, according to the report.
Madrid-based Amadeus focuses on travel software systems and expects revenue growth of between 11% and 14.5% this year, according to the report. The potential acquisition of Shift4 would complement Amadeus’ travel booking tools and further expand its offering in the financial services sector.
