US payments processor Shift4 has entered into a definitive agreement to acquire Smartpay, a leading provider of payment processing and point-of-sale solutions in Australia and New Zealand, for NZ$296 million or NZ$1.20 per share.
This represents a 47% premium to the 90 trading day Volume Weighted Average Price of Smartpay.
The offer is priced at an enterprise value of NZ$306 million, and an acquisition multiple of around 14.2 times based on FY2025 Normalised EBITDA of NZ$21.5 million.
The board of Smartpay have been fielding “expressions of interest and tested a broad range of potentially other interested parties” the company said yesterday.
Marty Pomeroy, CEO of Smartpay, said, “Smartpay remains focused on being the payments partner of choice, investing and adding scale to our existing Australian and New Zealand business.
“The proposed transaction, if completed, will see Shift4 partner with Smartpay to deliver an enhanced value proposition to our customers, employees and other stakeholders while delivering immediate and derisked value to our current shareholders.”
High-impact negotiation
masterclass
July 9 & 16, 2025
5:00pm - 8:30pm
This high-impact negotiation masterclass teaches practical strategies to help you succeed in challenging negotiations.
Shift4 CEO Taylor Lauber said: “This acquisition follows the Shift4 playbook to a tee. It deepens our strategic presence in Australia and New Zealand, providing a significant opportunity to offer our full suite of software and payments solutions in the region.
“By combining our payment infrastructure with Smartpay’s distribution capabilities, we’re well positioned to go-to-market at scale in the region with our leading products and services such as SkyTab POS for restaurants, SkyTab Venue for stadiums and arenas, and our end-to-end payment solution for hotels and unified commerce merchants.”
Shift4 says it has “successfully executed a similar strategy of combining acquisitions to deliver a superior integrated payment experience with localized distribution, service, and support, valuable merchant-facing products, and owned payment rails to rapidly scale in other regions”, most recently in Germany, the UK and Ireland.
Smartpay serves more than 40,000 merchants.