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Highlights
- Smartpay (SMP) receives $1.11 per share proposal
- Deal implies 46.5% premium over 90-day average
- Acquisition supports Shift4’s expansion in Australia and NZ
US-based global payments technology company Shift4 Payments has proposed a $274.1 million acquisition of New Zealand-headquartered Smartpay Holdings (ASX:SMP), a provider of point-of-sale (POS) payment solutions operating in Australia and New Zealand. The all-cash offer values Smartpay at $1.11 per share—marking a significant 46.5% premium over its 90-day volume-weighted average price of $0.76.
This strategic move aligns with Shift4’s goal to deepen its international presence, especially across the growing payments landscape in the Asia-Pacific region. Shift4's CEO highlighted the value of integrating Smartpay’s established merchant network with Shift4’s advanced POS technologies to deliver an end-to-end payments solution for sectors such as hospitality, retail, and stadium operations.
Smartpay currently serves over 40,000 merchants and maintains a strong distribution footprint across Australia and New Zealand. The company had previously received multiple unsolicited non-binding proposals and established an independent committee to assess them. After evaluating various options, the committee concluded that Shift4’s offer provides the strongest value opportunity while helping manage long-term operational risks.
Smartpay’s CEO welcomed the potential acquisition, stating that it would enhance value delivery for customers and stakeholders and broaden the company’s scale and capabilities. The board has given unanimous support to the deal, which remains subject to shareholder approval, New Zealand Overseas Investment Act clearance, and a High Court ruling.
If approved, the acquisition is expected to close before the end of the calendar year, marking another global expansion success for Shift4, which processes over $400 billion annually across more than 45 countries. The firm has followed a similar acquisition strategy in markets such as the UK, Ireland, and Germany to unify and enhance the payment experience.
Smartpay’s inclusion in this transaction spotlights the increasing interest from global players in tapping into high-growth regions like Australia and New Zealand, markets that also contribute to the broader ASX200 index ecosystem.
With this move, Shift4 aims to reinforce its strategic presence and capabilities in the Southern Hemisphere, leveraging Smartpay’s strong market relationships to build a regional payments powerhouse.
