Shift4 acquires Givex in all-cash transaction
Torys acted as counsel to the special committee of Givex Corp. with a team led by John Emanoilidis and that included Ed Fan (IP), Tom Stevenson (employment), Nic Wall (privacy), Andrew Gray (litigation) and Omar Wakil (regulatory).
On August 26, 2024, Givex Corp. ("Givex") announced that it has entered into a definitive arrangement agreement with Shift4 Payments, Inc. ("Shift4") pursuant to which Shift4 agreed to acquire all of the issued and outstanding shares of Givex, by way of a statutory plan of arrangement under the Business Corporations Act (Ontario).
Closing of the transaction was announced on November 8, 2024.
Under the terms of the arrangement agreement, each holder of common shares in the capital of Givex will receive C$1.50 in cash for each share held, implying an aggregate equity value of approximately C$200 million, on a fully diluted, in-the-money, treasury method basis.
Following closing, Givex shares were de-listed from the Toronto Stock Exchange (TSX) and Givex ceased to be a reporting issuer under applicable Canadian securities laws.
Further information can be found on PR Newswire’s website and on newsfile.com.
Givex provides omnichannel gift cards, loyalty programs, data analytics, stored value tickets, payment processing, and cloud-based point of sale (POS) solutions in Canada, the United States, Australia, the United Kingdom, and internationally.
Shift4 is the leader in secure payment processing solutions, including point-to-point encryption, tokenization, EMV technology and point-of-sale (POS) systems. It redefines commerce by simplifying complex payments ecosystems across the world, powering billions of transactions annually for hundreds of thousands of businesses in virtually every industry.