Shift4 Payments Reaches Agreement To Acquire Assets Related To SpotOn's Sports And Entertainment Division Formerly Known As Appetize For Approximately $100M Cash - Filing
Portfolio Pulse from Benzinga Newsdesk
Shift4 Payments has agreed to acquire assets related to SpotOn's Sports and Entertainment division, formerly known as Appetize, for approximately $100M in cash. The acquisition includes customer relationships, certain technology assets, and a portion of the SpotOn employee base. Shift4 expects an immaterial financial contribution in 2023, with an increase in 2024 as Appetize's revenue and operating models are aligned with Shift4's.
October 02, 2023 | 8:43 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Shift4 Payments is acquiring assets from SpotOn's Sports and Entertainment division. This could potentially expand Shift4's customer base and technology assets, with financial contributions expected to increase from 2024.
The acquisition of SpotOn's assets by Shift4 Payments could potentially expand its customer base and technology assets, which could lead to increased revenues in the future. This is likely to have a positive impact on Shift4's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100