Shift4 Acquires Majority Stake in Vectron, Completes Purchase of Revel

Shift4 has acquired a majority stake in Vectron Systems, a supplier of point-of-sale (POS) systems to the restaurant and hospitality verticals in Europe.

This acquisition is expected to provide Shift4, a provider of integrated payments and commerce technology, with a customer footprint across Europe, a distribution network of about 300 POS resellers, and the opportunity to add its integrated payment services to Vectron customers and products, Shift4 said in a Friday (June 14) press release.

“Shift4 was at the forefront of the convergence between software and payments in the restaurant and hospitality verticals in the U.S.,” Jared Isaacman, CEO at Shift4, said in the release. “We see an incredible amount of demand for a similar all-in-one solution across Europe.”

The company also reported Friday that it completed its previously announced acquisition of Revel Systems, which has more than 18,000 merchant locations across the United States and internationally as well as a direct sales and dealer distribution network.

The Revel Systems merchant locations represent a payment opportunity of over $17 billion, while the distribution network can be leveraged to accelerate the distribution of Shift4’s SkyTab solutions both domestically and internationally, Shift4 said in the press release.

Shift4 announced its intent to acquire Revel Systems in a May 9 shareholder letter.

In an earlier move, the company teamed up with Amazon in September to widen the use of Amazon’s Just Walk Out payment technology.

That partnership combined Shift4’s VenueNext solution with Just Walk Out tool to enable customers to use this solution at Chicago’s United Center arena, which expanded from three stores using Just Walk Out to seven.

With this collaboration, customers entering the store can simply scan the venue’s mobile wallet that is powered by VenueNext.

In another recent development in the restaurant sector, Nory said in May that it raised $16 million in Series A funding to expand the use of artificial intelligence (AI) in the hospitality industry.

Nory describes its product as an “AI restaurant manager,” saying it offers data-backed insights that help hospitality businesses optimize staffing levels, predict demand, select the right inventory and make other strategic decisions.