Restaurant Business
One of the biggest payment processors in the restaurant industry is acquiring one of the biggest POS providers.
Shift4 revealed Thursday that it has a deal to buy Revel Systems for $250 million in cash, with plans to sell its payments product to Revel’s customers.
The deal is expected to close in the current quarter.
Shift4 offers payments and other technology to a range of industries, including restaurants. Its restaurant POS system, SkyTab, is used by operators of many large chains, including Burger King, Applebee’s and Denny’s.
Revel offers a cloud-based POS system for chains as well as back office and marketing tools. More than 18,000 restaurant locations use Revel globally, including Dave’s Hot Chicken, The Halal Guys and Kung Fu Tea.
Revel does offer a payments product, but it has not historically been known as a payment processor. Shift4 sees an opportunity to fill that void.
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