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TransactionWatch – Week of March 1st – March 5th

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The anticipation of a stronger economic year is in full force as some speculate a significant increase for in-store payment volumes with the reopening of businesses and venues. Shift4 Payments is seeking to take advantage of this opportunity with their announcement to acquire the commerce and point-ofsale (POS) provider VenueNext. With this acquisition, Shift4 will be able to further expand into a variety of venue-type verticals such as stadiums, universities, and theme parks which have been largely impacted by COVID-19. However, Shift4 suggests that these verticals will see growth in the coming future and expects that the acquisition of VenueNext will bring $2.5 to $3 billion in end-to-end payment volume by 2023. The transaction was paid in cash and stock for a total consideration of $72 million and closed on March 3rd, 2021.

In other M&A news, PayPal is reportedly bidding to acquire the digital currency storage firm, Curv. News of this broke earlier this week and the talks could still fall apart according to an individual familiar with the matter. Separately, Square announced a majority investment in the music streaming platform, Tidal, in a deal that was valued at $297 million.