Acquisition News Has Shares of this Company Soaring

By: Tomas Ronolski - AllPennyStocks.com News

Monday, August 26, 2024

Shares of this technology solution provider are moving higher after a strategic announcement this morning.

Givex Corp. (TSX: GIVX) (OTCQX: GIVXF) announced today that it has entered into a definitive arrangement agreement with Shift4 Payments, Inc., pursuant to which Shift4 has agreed to acquire all of the issued and outstanding shares of Givex by way of a statutory plan of arrangement. Givex has a global footprint of 132,000+ active locations across more than 100 countries, empowering brands through reliable technology and exceptional support. Meanwhile, Shift4 provides end-to-end management solutions across industries.

The all-cash transaction provides immediate liquidity and certainty of value to Givex shareholders. Under the terms of the transaction, holders of Givex Shares will receive C$1.50 in cash for each Givex Share held.

Don Gray , CEO of Givex had this to say, “The Givex Team looks forward to joining the Shift4 family and bring our enterprise gift card capabilities and loyalty programs to hundreds of thousands of new customers.”

Shares of Givex were trading up over 50 percent in late morning trade.

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