Shift4 Plans to Acquire Revel Systems

Sample article from our Food & Beverage

May 9, 2024 (press release) –

Integrated payments and commerce tech company Shift4 announced Thursday in its Q1 earnings intent to acquire Revel Systems. The company noted in a shareholder letter it would be “straight out of the Shift4 Playbook.”

Meaning:

  • Blow up legacy revenue model and rebuild around payments.
  • Increase distribution of SkyTab via larger direct and dealer distribution in the U.S. and internationally.
  • Remove parts and unlock operational efficiencies.
  • Repurpose talent toward institution focus areas—SkyTab product development and enterprise capabilities.

The company also addressed rumors of a potential acquisition from the other side. Shift4 CEO and founder Jared Isaacman said the company received multiple offers, but despite them being higher than its share price, Shift4 elected to go a different route. Isaacman didn’t think the deal reflected Shift4’s value relative to its growth and that the company’s stock has frustratingly been undervalued by investors.

It was reported last December Global Payments Inc. was a potential suitor. Fiserv Inc. emerged in February as well as Amadeus. Shift4 didn’t comment on the rumors until Thursday.

Shift4 has been public since 2020. Shift4 recently inked a deal with Pizza Hutt LLC to provide online ordering for locations in Spain.

It posted payment volume of $33.4 billion in Q4, up 50 percent, year-over-year. Gross revenues were $707.4 million and net income $28.5 million. Those results were 29 and 39.7 percent above last year, respectively.

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