Shift4 has agreed to acquire Givex Corp. of Canada for about C$200 million (U.S.$148 million), adding to the services the Lehigh County-based company can provide to its customers.
Toronto-based Givex operates customer-loyalty and gift-card programs and a point-of-sale (checkout) system. The Canadian company said in a press release that Shift4 will pay C$1.50 per share. That is a 64% premium to a 20-day average price, according to Givex.
Upper Saucon Township-based Shift4 processes payments for major league teams, restaurants, hotels and other businesses in North America and Europe.
Shift4 President Taylor Lauber said Givex’s “gift card and loyalty solutions are second to none and will add significant value for our current customers.”
Givex clients include Nike, Marriott, Wendy’s and Texas Roadhouse, among others, according to a statement from Shift4.
Shares of Shift4 are traded on the New York Stock Exchange under the ticker symbol FOUR. The closing price Friday was $81.13, giving the company a market capitalization of $7.19 billion.
Givex is traded in Canada under the symbol GIVX. On Friday, it’s closing price was 97 cents, Canadian.
Givex statement:
Lehigh Valley News Briefs 