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TransactionWatch – Week of November 2nd – November 6th

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Acceleration into the eCommerce space continues to be a growing focus for payment entities, which was further demonstrated this week with the announcements of two notable acquisitions. First off, Lightspeed POS has entered into a definitive agreement to acquire ShopKeep, an eCommerce platform provider, for a total consideration of approximately $440 million, representing an 8.8x revenue multiple. The addition of ShopKeep further enhances Lightspeed’s omnichannel offerings and accelerates their eCommerce solutions. Furthermore, ShopKeep will bring an increase to Lightspeed’s overall payments volume which is estimated to reach $33 billion annually from over 100,000 customers. Separately, Shift4 Payments announced their acquisition of 3dcart, another eCommerce platform provider, for an undisclosed sum. Similarly, this acquisition helps amplify Shift4’s eCommerce offerings and helps create a more unified commerce ecosystem for their customers. 3dcart serves over 14,000 businesses and will help drive an increase to Shift4’s payment volume, in which the company processed more than $200 billion in 2019.

In other M&A news, Nuvei announced the completion of their acquisition of Smart2Pay, which was estimated to be valued at roughly $345 million. Additionally, REPAY announced the closure of their deal with CPS Payment Services, which was initially announced just a couple weeks back.