Shift4 Payments Announces Acquisition of VenueNext to Power Sports Stadiums, Entertainment Venues and Theme Parks

Rhea-AI Summary

Shift4 Payments (NYSE: FOUR) announced the acquisition of VenueNext, a leader in mobile commerce and point-of-sale solutions. This acquisition strengthens Shift4’s capabilities in sectors such as stadiums and arenas, expanding its total addressable market to include entertainment, universities, and theme parks. VenueNext's product suite enhances Shift4's offerings by integrating mobile ordering and loyalty solutions, positioning Shift4 as a unique provider of in-venue commerce solutions. This strategic move aims to simplify and enhance the fan experience while leveraging VenueNext's existing customer base.

Positive

• Expansion into new verticals including entertainment and theme parks.
• Enhanced product offerings combining mobile technology with payment processing.
• Access to VenueNext's existing customer base across major professional sports leagues.

Negative

• None.

Shift4 Payments (NYSE: FOUR), a leading provider of integrated payment processing solutions, today announced the acquisition of VenueNext, a leader in next-generation mobile commerce, point-of-sale, and loyalty solutions for venues. This acquisition enhances Shift4’s presence and capabilities in a number of large and growing verticals such as stadiums and arenas, while significantly expanding the company’s total addressable market with entry into entertainment, universities, theme parks, airports, and other verticals.

VenueNext is used by teams in every major professional sports league, in addition to colleges and other business verticals such as amusement parks and corporate campuses, all of whom will now have access to the combined offering from Shift4. The company’s product suite includes mobile ordering, full venue point-of-sale software, branded mobile applications (turnkey white label apps for teams / venues), and a mobile wallet / loyalty engine. This best-in-class mobile technology will add value across the entire Shift4 ecosystem.

This acquisition uniquely positions Shift4 as the only vertically integrated provider to power every aspect of in-venue commerce, including software (Mobile & POS), transaction gateway, and payment processing capabilities. This one-stop-shop solution delivers a compelling value proposition to venues by reducing cost and complexity, similar to Shift4’s end-to-end offering in other verticals.

“At Shift4, we thrive on eliminating complexity and reducing cost for the most demanding commerce environments. We have taken the same successful vertically-integrated strategy that has served us incredibly well in the hospitality and restaurant industries, and brought it to eCommerce with Shift4Shop and now to sports stadiums, entertainment venues and theme parks with this exciting acquisition,” said Jared Isaacman, Shift4 Payments CEO. “We couldn’t be more excited to welcome VenueNext to the Shift4 organization. We love their focus on the ‘fan & patron experience’ and making commerce simple and more enjoyable. In addition to jointly pursuing new opportunities, we intend to immediately offer Shift4’s end-to-end payments solution to VenueNext’s sizeable existing customer portfolio which spans across virtually every category of large venue across the country and internationally.”

For additional information about this acquisition, you can view the VenueNext Acquisition Overview presentation available at https://investors.shift4.com/events-and-presentations.

About Shift4 Payments

Shift4 Payments (NYSE: FOUR) is a leading provider of integrated payment processing and technology solutions, delivering a complete omnichannel ecosystem that extends beyond payments to include a wide range of commerce-enabling services. The company’s technologies help power over 350 software providers in numerous industries, including hospitality, retail, F&B, ecommerce, lodging, gaming, and many more. With over 7,000 sales partners, the company securely processed more than $200 billion in payments volume for over 200,000 businesses in 2019. For more information, visit shift4.com.

About VenueNext

VenueNext is a next-generation point-of-sale company transforming the way consumers shop, purchase, and pay. Their ecosystem of products combines physical and digital solutions to create a frictionless shopping experience, offering products such as point-of-sale solutions, online ordering, branded apps, and branded payments. VenueNext's powerful platform makes commerce simple for consumers – and easy for brands to incentivize and reward their most valuable customers for their loyalty. VenueNext began in 2014 with Levi's® Stadium and the San Francisco 49ers and has since gone on to power mobile-first, frictionless commerce in Arenas and Stadiums, Theme Parks, Universities, Corporate Cafes and Theaters.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210304005298/en/

FAQ

What is the significance of Shift4's acquisition of VenueNext?

The acquisition enhances Shift4's presence in mobile commerce and payment processing across new verticals like entertainment and theme parks.

How does the VenueNext acquisition impact Shift4 Payments?

It expands Shift4's total addressable market and integrates VenueNext's advanced mobile solutions, enhancing the overall service offering.

When was the VenueNext acquisition announced?

The acquisition was announced on March 4, 2021.

What products does VenueNext offer?

VenueNext offers mobile ordering, full venue point-of-sale software, branded mobile apps, and a loyalty engine.