Shift4, an integrated payments and commerce technology company based in Allentown, Pennsylvania, has entered into a definitive agreement to acquire Global Blue, a specialty payments and technology platform headquartered in Switzerland.
Under the agreement, Shift4 will purchase Global Blue for US$7.50 per common share in cash, representing a 15% premium to Global Blue’s closing share price as of 14 February 2025, with an enterprise value of approximately US$2.5 billion.
“This acquisition continues a bold tradition of introducing transformative capabilities to exceptional customers along with a massive embedded cross-sell opportunity,”
said Shift4 President Taylor Lauber.
“It fits perfectly in the Shift4 playbook: delivering an enormous volume conversion opportunity while unlocking significant new revenue opportunities and capabilities that open entirely new markets for us. Integrating Global Blue into our unified payments platform positions Shift4 as a leading unified commerce payment provider around the world.”
Global Blue’s merchant solutions will be integrated into Shift4’s global payments platform, enhancing the end-to-end experience for merchants.
As part of the transaction, two major shareholders of Global Blue, Ant International and Tencent, intend to remain investors in the combined entity and are exploring strategic partnerships with Shift4.
The partnership will expand on their existing relationship with Global Blue and explore collaboration with Shift4 on global e-commerce payment solutions.
This includes the distribution of the unified gateway service Alipay+ and Weixin Pay.
Under the agreement, Shift4 will acquire Global Blue through a tender offer and subsequent statutory squeeze-out merger.
Upon completion, Global Blue’s common and preferred stock will no longer be publicly listed. Warrant holders will have the opportunity to exercise their warrants ahead of their maturity in August 2025.
The acquisition has been unanimously approved by the boards of directors of both companies and is expected to close by the third quarter of 2025, subject to regulatory approvals, customary closing conditions, and a minimum tender of at least 90% of Global Blue’s issued and outstanding common and preferred shares.
Certain shareholders, collectively owning approximately 90% of Global Blue’s shares, have entered into tender and support agreements to facilitate the transaction.
Shift4 plans to finance the acquisition using cash on hand and a US$1.795 billion, 364-day bridge loan facility secured in connection with the deal.
Featured image credit: edited from freepik
