Shift4, a Pennsylvania based American payment processing firm on Tuesday, 1st of March 2022, announced its acquisition of crypto donation marketplace The Giving Block.
The deal between The Giving Block and Shift4
Shift4 said in an investor presentation that the acquisition includes a $54 million upfront payment and a potential payout of up to $246 million, with 75 % stock and 25% cash.
Last year, the firm got $5 million in revenue, which is expected to more than double by 2022. In 2023, the purchase will boost Shift4’s adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) by at least $5 million.
The Giving Block is a cryptocurrency marketplace that allows users to donate to over 1,300 NGOs.
Shift4 also announced the acquisition of Finaro, an e-commerce services provider. During premarket trading on the New York Stock Exchange, shares of Shift4 (FOUR) were down nearly 4%.
About Shift4
The Giving Block is a cryptocurrency marketplace where users can donate to over 1,300 non-governmental organizations.
Shift4 is revolutionizing commerce around the world by simplifying complex payment networks. Shift4 powers billions of transactions annually for hundreds of thousands of firms in practically every industry as the leader in commerce-enabling technology.
Shift4 enables electronic payment authorization and reporting in real-time. It’s simple to use and has a lot of flexibility, which is a great advantage. Finaro, an e-commerce services business, was also acquired by Shift4.
