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Shift4 Acquires Majority Stake of German Point-of-Sale Company Vectron Systems AG and Completes Previously Announced Acquisition of Revel Systems

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Shift4 Acquires Majority Stake of German Point-of-Sale Company Vectron Systems AG and Completes Previously Announced Acquisition of Revel Systems
News

News

Shift4 Acquires Majority Stake of German Point-of-Sale Company Vectron Systems AG and Completes Previously Announced Acquisition of Revel Systems

2024-06-14 20:01 Last Updated At:20:10

MUNSTER, Germany & CENTER VALLEY, Pa.--(BUSINESS WIRE)--Jun 14, 2024--

Shift4, the leader in integrated payments and commerce technology, has acquired a majority stake in Vectron Systems AG, one of the largest European suppliers of point-of-sale (POS) systems to the restaurant and hospitality verticals. Based in Germany, Vectron has ~65,000 POS locations across Europe, representing ~€25 billion in volume opportunity with minimal payment monetization today. Shift4 is expected to acquire additional ownership of Vectron through a public tender offer that is expected to conclude within the next month, with a de-listing and formal integration process to occur shortly thereafter.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240614174804/en/

The acquisition is expected to provide Shift4 with an expansive customer footprint across Europe as well as a distribution network of ~300 POS resellers. As a result of the acquisition, Shift4 believes it will be able to add its integrated payment services to current Vectron customers and products, while also empowering the sales force with a compelling all-in-one POS and payments solution unrivaled in Europe.

“Shift4 was at the forefront of the convergence between software and payments in the restaurant and hospitality verticals in the US. We see an incredible amount of demand for a similar all-in-one solution across Europe,” states Shift4 CEO Jared Isaacman. “With our integrated payments and SkyTab offering, we believe we have the best solution at the right price point. Vectron will provide valuable local expertise, infrastructure, and the distribution necessary to meet the demand. This acquisition is right out of the Shift4 playbook – enabling us to unlock synergies, expand our distribution, and monetize payments for a large existing install base.”

In addition to the acquisition of Vectron, Shift4 has also completed its previously announced acquisition of Revel Systems. Revel has over 18,000 merchant locations across the United States and internationally which Shift4 estimates represents a $17B+ payment opportunity. Revel also has a direct sales and dealer distribution network which Shift4 believes can be leveraged to accelerate SkyTab distribution both domestically and abroad. Please reference Shift4’s Q1 2024 Shareholder Letter for more information on the Revel acquisition.

Shift4 retained Perella Weinberg as financial advisor and Gleiss-Lutz as legal advisor on the acquisition of Vectron, and Chiesa, Shahinian, and Giantomasi as legal advisor on the acquisition of Revel.

To learn more about Shift4, visit www.shift4.com. For more information regarding the Vectron acquisition, please click here or visit our website at investors.shift4.com/news-events/presentations.

Forward-Looking Statements 
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Shift4 intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding our expectations associated with the acquisitions of Vectron Systems AG and Revel Systems, including the completion of the acquisitions, the benefits, synergies, efficiencies, and opportunities arising from the acquisitions, and the timing of any of the foregoing. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any futures results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to the substantial and increasingly intense competition worldwide in the financial services, payments and payment technology industries; our ability to continue to expand our share of the existing payment processing markets or expand into new markets; additional risks associated with our expansion into international operations, including compliance with and changes in foreign governmental policies, as well as exposure to foreign exchange rates; and our ability to integrate and interoperate our services and products with a variety of operating systems, software, devices, and web browsers, and the other important factors discussed under the caption “Risk Factors” in Part I, Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2023 and our other filings with the SEC. Any such forward-looking statements represent management’s expectations as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

About Shift4 
Shift4 (NYSE: FOUR) is boldly redefining commerce by simplifying complex payment ecosystems across the world. As the leader in commerce-enabling technology, Shift4 powers billions of transactions annually for hundreds of thousands of businesses in virtually every industry.

Shift4 Acquires Majority Stake in Vectron and Completes Acquisition of Revel Systems (Graphic: Business Wire)

Shift4 Acquires Majority Stake in Vectron and Completes Acquisition of Revel Systems (Graphic: Business Wire)

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Pinnacle Is One of the Country’s Top 10 Workplaces for Millennials

2024-07-22 21:00 Last Updated At:21:11

NASHVILLE, Tenn.--(BUSINESS WIRE)--Jul 22, 2024--

Pinnacle Financial Partners (Nasdaq/NGS: PNFP) remains one of the best workplaces in the nation for millennials. The firm earned the No. 9 spot on the latest list of Best Workplaces for Millennials from FORTUNE magazine and Great Place To Work ®. This is Pinnacle’s seventh consecutive appearance. Earlier this year, it was named No. 11 on the overall list of Best Companies to Work For in the United States.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240722538424/en/

To determine the Fortune Best Workplaces for Millennials™ List, Great Place To Work collected nearly 510,000 responses from millennials at companies eligible for the list. To be considered, companies had to be Great Place To Work Certified™ and have at least 50 millennial employees in the U.S.

“We understand the future of the workplace is changing, with millennials being the next generation of leaders in our industry” said Summer Yeiser, director of associate and client experience. “Pinnacle’s work environment is designed to promote flexibility, self-empowerment, autonomy and pursuing your passions. It’s a key part of what enables us to maintain such high standards for distinctive service and effective advice. This acknowledgement shows that our culture not only resonates with our associates, but it also makes us a leader for how to build and sustain a great workplace for all people.”

The Best Workplaces for Millennials list is highly competitive. Survey responses reflect a comprehensive picture of the workplace experience. Honorees were selected based on their ability to offer positive outcomes for millennial employees regardless of job role, race, gender, sexual orientation, work status or other demographic identifier.

In the most recent survey from Great Place To Work, Pinnacle’s results showed that 98% of associates at Pinnacle say it is a great place to work compared to 57% of employees at a typical U.S. based company. Other highlights include:

“Millennials are the largest generation in the workforce, and their experience is a strong indicator of overall company health,” says Michael C. Bush, CEO of Great Place To Work®. “These workers demand what every great workplace should provide: credible leadership, meaningful work, and a respectful, fair place to do their jobs.”

Best Workplaces for Millennials is one of a series of rankings by Great Place To Work and FORTUNE based on employee feedback from Great Place To Work-Certified™ organizations. Pinnacle regularly ranks on several of them, including overall Best Company to Work For, Best Workplace in Financial Services and Insurance, Best Workplace for Millennials and Best Workplace for Women.

Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm is the No. 1 and fastest growing bank in the Nashville-Murfreesboro-Franklin MSA, according to 2023 deposit data from the FDIC. Pinnacle is No. 11 on the 2024 list of 100 Best Companies to Work For® in the U.S., its eighth consecutive appearance and was recognized by American Banker as one of America’s Best Banks to Work For 11 years in a row and No. 1 among banks with more than $10 billion in assets in 2023.

Pinnacle Bank owns a 49 percent interest in Bankers Healthcare Group (BHG), which provides innovative, hassle-free financial solutions to healthcare practitioners and other professionals. Great Place to Work and FORTUNE ranked BHG No. 4 on its 2021 list of Best Workplaces in New York State in the small/medium business category.

The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $49.4 billion in assets as of June 30, 2024. As the second-largest bank holding company in Tennessee, Pinnacle operates in several primarily urban markets across the Southeast.

The firm began operations in a single location in downtown Nashville, TN, in October 2000 and has since grown to approximately $48.9 billion in assets as of March 31, 2024. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 17 primarily urban markets across the Southeast.

Additional information concerning Pinnacle, which is included in the Nasdaq Financial-100 Index, can be accessed at www.pnfp.com.

About the Fortune Best Workplaces for Millennials List

Great Place To Work selected the Fortune Best Workplaces for Millennials List by surveying companies employing more than 8.2 million people in the U.S. with 1.3 million confidential survey responses received. Of those, nearly 510,000 responses were received from millennials at companies eligible for the list and these rankings are based on that feedback. Read the full methodology.

About Great Place To Work

As the global authority on workplace culture, Great Place To Work brings 30 years of groundbreaking research and data to help every place become a great place to work for all. Their proprietary platform and For All™ Model help companies evaluate the experience of every employee, with exemplary workplaces becoming Great Place To Work Certified™ or receiving recognition on a coveted Best Workplaces™ List.

Follow Great Place To Work on LinkedIn, X, and Instagram or visit greatplacetowork.com and sign up for the newsletter to learn more.

About Fortune

Fortune upholds a legacy of award-winning writing and trusted reporting for executives who want to make business better. Independently owned, with a global perspective and digital agility, Fortune tells the stories of a new generation of innovators, builders, and risk takers. Online and in print, Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable. Fortune creates communities by convening true thought leaders and iconoclasts — those who shape industry, commerce, and society — through powerful and prestigious lists, events, and conferences, such as the iconic Fortune 500, the CEO Initiative and Most Powerful Women. For more information, visit www.fortune.com.

Pinnacle associates in McLean, VA. (Photo: Business Wire)

Pinnacle associates in McLean, VA. (Photo: Business Wire)

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