Shift4 buys three firms to get a big slice of restaurant vertical
Payments processor Shift4 Payments has acquired three point of sale companies that it will integrate to strengthen its presence in the hospitality POS market.
Already strong in the hotel chain vertical, Shift4's acquisition of Restaurant Manager, POSitouch and Future POS will add nearly 100,000 merchants to its platform. It will now include national chains Wendy's, Arby's, Denny's, KFC, Outback Steakhouse, Bonefish Grill and Dairy Queen.
The POS companies will join Harbortouch point of sale hardware and software as part of the Shift4 brand.
"When POS technology and payments are intelligently combined, the value proposition can be quite compelling," Shift4 Payments CEO Jared Isaacman said in a Tuesday press release. "Our considerable experience has given us the confidence to bring together the leading brands in hospitality point of sale technology in a move that is truly transformational for our organization and for the industry as a whole."
Founded in 1985, POSitouch is based in Warwick, R.I., and its restaurant POS software has been installed in more than 50,000 locations throughout the U.S., Canada, South America, Europe, and the Far East.
Shift4 says Restaurant Manager has been designing POS software for the foodservice industry since 1987. The company has supported more than 15,000 hospitality clients across the world, with customers in the U.S., Canada, Mexico, South America, Asia, the Middle East, and a number of European countries.
Founded in 1998, Future POS offers point of sale software for the restaurant and hospitality markets. The company has served more than 20,000 merchants across the country, including some of the most well-known restaurant and fast casual brands.
Shift4 Payments operates out of eight offices across the U.S. and Europe. In January, Allentown, Pa.-based Lighthouse Network bought the Shift4 Corp. payment gateway and rebranded as Shift4 Payments.