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Report: Amadeus and Fiserve bid for Shift4

Feb 29, 2024
Data: Yahoo Finance; Chart: Axios Visuals
Data: Yahoo Finance; Chart: Axios Visuals

Shares of payments processing company Shift4 surged 16% this morning following a Reuters report that Fiserv and Amadeus IT Group were competing to acquire the company.

Why it matters: Shift4 has been in the acquisition rumor mill for some time, with CEO Jared Isaacman confirming last year that the company was fielding interest from buyers.

Context: Companies that went public during the pandemic have struggled as expectations shifted from high growth to profits.

  • As a result, last Nov. 1, S&P Market Intelligence wrote that 2023 had already seen the most take-private deals in 16 years.
  • Having taken his company public in 2020, Shift4's Isaacman has also expressed that the company may join the trend.
  • "This is what we signed up for when ringing the NYSE bell," he wrote in a letter to shareholders last year. "But at the same time, we are actively exploring strategic opportunities & alternatives that will reduce distractions and serve our company,"
  • Isaacman holds 82% voting control in the company, notably.

The bottom line: The payments space is dealing with a reset, seeing both spinouts (Worldpay) and combinations (Nuvei's Paya purchase) at the same time.

Shift4 and Fiserv declined to comment. Amadeus has not yet responded to a request for comment.

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