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 worth of transactions annually for more than 200,000 customers.
Shift4 Payments: A Lucrative Acquisition Target
Despite the challenges posed by the COVID-19 pandemic, Shift4 Payments 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…