Fiserv and Amadeus IT Group are competing to acquire
Shift4 Payments, a payments processor with a market value of nearly $7 billion.
According to a report by Reuters, both Fiserv and Amadeus are preparing to
present final bids for the acquisition in the upcoming weeks.
This acquisition will grant the winning bidder
access to Shift4’s extensive network and market influence. The company has a
diverse clientele spanning restaurants, casinos, hotels, and sports teams like
the San Francisco 49ers. Shift4 processes over $200 billion of
transactions annually for more than 200,000 customers.
Despite the
challenges posed by the COVID-19 pandemic, Shift4 Payments reportedly experienced notable
growth fueled by the surge in digital payment adoption. However, the landscape
remains competitive, with players grappling to sustain momentum amidst
heightened competition and inflationary pressures.
Shift4’s recent fourth-quarter earnings report and
an optimistic outlook for 2024 have boosted its appeal…