Givex Corp. is being acquired by Shift4 Payments, the two companies announced this week, after the Canadian fintech’s board of directors determined that the transaction is in the best interests of the company.
Pensylvannia’s Shift4, a commerce technology firm, has agreed to acquire all of the issued and outstanding shares of Givex, according to a statement from the company, in an all-cash deal.
Shareholders of Givex will receive $1.50 in cash per share, implying an aggregate equity value for the fintech of approximately $200 million.
“The Givex Team looks forward to joining the Shift4 family and bring our enterprise gift card capabilities and loyalty programs to hundreds of thousands of new customers,” stated CEO Don Gray.
“By combining Shift4’s end-to-end payment solution with our value-added engagement services, we can deliver an unparalleled package to both of our customer bases,” the chief added.
“Givex has a considerable footprint around the world, which will dramatically increase Shift4’s overall customer base,” stated Shift4 president Taylor Lauber.
“At the same time, their gift card and loyalty solutions are second to none and will add significant value for our customers, creating stickier relationships and enhancing our overall value proposition,” Lauber added.
Since 1999, Givex has provided technology solutions to improve engagement and connectivity between brands and their customers, including digital gift cards and AI offerings launched earlier this year.
The company operates a global footprint of more than 130,000 active locations in over 100 nations.
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