Shift4 completes the acquisition of Finaro to expand further in Europe and improve the eCommerce platform

ALLENTOWN, Pennsylvania, November 3, 2023/PRNewswire/ --Shift4(NYSE: FOUR), a leading company in integrated payments and commerce technology, has - as previously announced acquired Finaro, which is both a licensed bank and acquirer of international credit cards, particularly in Europe. With this acquisition, Shift4's total market expands significantly, both in terms of geographic coverage and industries.

Finaro will deliver their global infrastructure and innovative technology, which Shift4 needs to develop internationally in Europe. In addition to expanding Shift4's geographic area, this acquisition also improves the company's cross-border e-commerce capabilities, and will thereby be able to offer a unified global payments platform for customers and partners worldwide. This acquisition not only strengthens Shift4's eCommerce. It also gives Shift4 the opportunity to soon offer its card technology throughout Europe – including SkyTab, which is the company's point-of-sale for restaurants and VenueNext, which is a stadium and venue solution. At the same time, this acquisition gives Finaro's merchants and partners access to a solution in the USA that can help them grow in new markets in North America.

"Finaro is a great fit with Shift4 in terms of geographic coverage, capabilities and industries. It also gives us the opportunity to guide our strategic customers into new markets, which is an important opportunity", says Shift4's Chief Executive Officer Jared Isaacman. "By combining Shift4's card solutions with Finaro's strengths in international eCommerce, we as a combined organization can offer our customers a complete commerce experience that can compete with the largest payment companies in the world".

Mr. Isaacman added: "With Finaro's technical offices located in Israel, we are aware that this comes at an extremely difficult time for these employees and their loved ones. The ability to work together in these difficult times is a testament to the talent and character of everyone on the Finaro team. We are proud to welcome them into our Shift4 family."

"I have led this company from the very early days, so I am proud of how much Finaro has grown over the last decade, and I am excited about this acquisition. I am confident that Finaro's best-in-class technology, talent and capabilities will work well with Shift4, and it will make the entire organization a global leader in the payments space. I would like to thank Finaro's dedicated and talented management and all our outstanding employees for bringing us to this point, and I look forward to seeing how the company develops," says Igal Rotem, Chief Executive Officer of Finaro.

Finaro will soon change its name to Shift4 and will thereby operate under one name that reflects the company's unified global payments platform. You can read more about Shift4 at www.shift4.com.

Citi acted as exclusive financial advisor to Shift4 in connection with the acquisition of Finaro.

Keefe, Bruyette & Woods (KBW), a Stifel company, acted as financial advisor to Finaro.

About Shift4: Shift4 (NYSE: FOUR) boldly redefines commerce by simplifying complex payment ecosystems worldwide. Shift4 is a leader in commerce-enabling technology, and we are responsible for billions of transactions annually for hundreds of thousands of businesses in virtually all industries. You can read more at shift4.com.