Shift4 Acquires Finaro in a Deal Worth $575 Million

International cross-border payment provider, Finaro announced yesterday that the company has entered into an agreement with Shift4 for its acquisition. The deal is valued at $575 million.

Shift4 noted that the acquisition will facilitate international merchants through an efficient multi-dimensional processing experience. With over 425 software integrations and more than 200,000 merchant customers around the world, Shift4 is one of the fastest-growing providers of integrated payment and technology solutions.

Finaro highlighted the need for cutting-edge technology in the global payment industry. According to the fintech firm, Shift4 will be able to expand its current services around the world with the acquisition. Igal Rotem, the CEO of Finaro, believes that reliable payment processing capabilities are important for the overall growth in international transactions.

“This acquisition emphasizes that we have accomplished what we set out to achieve, building reliable payment processing capabilities that are truly limitless in reach and scale. Being able to apply this technology to SpaceX’s Starlink program and others similar in scope, while also offering our merchants and partners around the world a broader range of products and services, is the realization of this goal in the most concrete manner, and we are thrilled to join the Shift 4 team,” Rotem said.

Fintech acquisitions are surging around the world. Earlier this year, Aryza Holdings signed a definitive agreement to acquire Collenda.

Unified Experience

According to Jared Isaacman, the CEO of Shift4, the company aims to provide an efficient payment processing experience to its customers unlike any other competitor in the market. For that, the company has accelerated its acquisition efforts to expand its operations.

“This acquisition underscores our aggressive efforts to deliver a unified commerce experience across the world. This deal clearly shows our ability to support existing transformational and global customers like SpaceX Starlink & St. Jude Children’s Research Hospital,” Isaacman said.