Acquisition of the German Orderbird by Nexi for 140 million dollars
The Italian fintech has acquired its rivals to create a 12.5 billion dollars European payment giant
Nexi fully acquired Orderbird by paying a sum of about 140-150 million dollars. The terms of the deal are not disclosed – Nexi notes that “the total amount of 100 million euros amounts to cash, including also previous equity purchases” – but sources confirmed to us that the deal made entirely with cash values Orderbird in the region of 130 -140 million euros (140 – 150 million dollars).
Nexi’s goal is to create a 12.5 billion dollars European payment giant to go deeper into financial services for small and medium-sized businesses in the region.
Orderbird will continue to operate as its own brand, being a central part of Nexi’s promotion in the category of small and medium-sized enterprises. The current management, which includes managing director Mark Schoen and CSO/founder Jakob Schreyer, will remain as it is after the transaction. After all, it’s one of the leading providers of POS systems, with cloud-based integrated payment systems in Europe.
“Joining forces with the Nets/Nexi group, a recognized European leader of PayTech, allows us to take this mission to the next level. This will collectively strengthen our business presence in Europe, while continuing to provide our customers with the best and most appropriate solutions they need today – and tomorrow,” said Orderbird CEO Mark Schoen.
Together with Orderbird, we highlight our commitment to the purchase of integrated software, while strengthening our offer to hospitality customers,” said Robert Hoffmann, CEO of Nets Merchant Services and Concardis, in a statement.”Our goal is to support European businesses to benefit from the rapid digitalisation of payments, through solutions such as Orderbird’s SaaS platform with a focus on hospitality, which improves the customer experience while allowing merchants to operate their business more efficiently. We are proud to fully welcome Orderbird to the Nexi family as it continues to respond to evolving customer preferences in the restaurants across Europe.”