Shift4 is set to acquire Global Blue, a technology and payments provider for luxury brands, for $2.5 billion.
The acquisition is valued at $7.50 per common share in cash, indicating a 15% premium over Global Blue’s closing share price on February 14.
Global Blue specializes in enabling tax-free shopping, dynamic currency conversion, and payment services for over 400,000 premium retail and hospitality locations. This acquisition also paves the way for new collaborations with Ant International and Tencent, both of which are shareholders of Global Blue.
Shift4 president Taylor Lauber remarked, “This acquisition continues a bold tradition of introducing transformative capabilities to exceptional customers, along with a massive embedded cross-sell opportunity. It perfectly fits in the Shift4 playbook: delivering an enormous volume conversion opportunity while unlocking significant new revenue opportunities and capabilities that open entirely new markets for us. Integrating Global Blue into our unified payments platform positions Shift4 as a leading unified commerce payment provider globally.”
This deal is the latest in a series of acquisitions by Shift4, which recently decided against selling its business after being unimpressed by offers for the publicly-listed company, which boasts a market valuation of $7 billion.