Switzerland-based payments facilitator SecurionPay has been snapped up by the US-listed point-of-sale (PoS) terminal player Shift4, in a $125.9 million cash, stock and contingent finance transaction, according to StartupTicker.
The transaction closed in September but was formally disclosed in a recent quarterly filing with the US securities exchange commission.
Businesses utilise the SecurionPay software to integrate e-checkout tools and mobile payments. Founded in 2014, the platform offers 150 currencies and is accessible in 23 languages.
Shift4 seems set to leave things as they are. The existing customer base at SecurionPay might not notice the change in ownership, as its customer support personnel are being retained.
SecurionPay was founded in 1999 but its operations have been limited to North America until now. The acquisition provides options for European expansion, with SecurionPay to be offered to North American Shift4 customers also.
Post-acquisition, the market for SecurionPay's software will be significantly expanded, and its customers given global servicing tools. With a product offering that includes POS, mobile ordering and loyalty programmes, Shift4's payments portfolio reportedly handles $200 billion in transactions, on behalf of more than 200,000 merchants.
Lucas Jankowiak, CEO of SecurionPay, said: "It is time now for a new exciting journey to begin. We are proud and honoured to become a part of #Shift4, an amazing company with an awesome team of payment professionals.
"Together we will be able to deliver the absolute best regarding both technology and service to merchants around the world.”