Integrated payments company Shift4 Payments has completed the acquisition of Swiss payments and technology firm Global Blue. 

The deal, first announced in February this year, valued the company at nearly $2.5bn.   

Global Blue, with a history of over 40 years, is known for its tax-refund and currency conversion technology services used by retailers and hospitality providers in Europe, Asia, and South America. 

Global Blue’s merchant solutions will be integrated into Shift4’s payment platform to deliver a more service offering to merchants.  

Global Blue, known for its extensive network, connects a large number of international shoppers with merchants and engages with consumers through its dedicated app. 

Following the acquisition, Shift4 Payments and Global Blue plan to introduce a new payment terminal that combines VAT refund, DCC, and payment processing in a single device. 

The acquisition also results in partnerships with Ant International and Tencent, aiming to explore potential collaborations on global e-commerce payment products.  

This includes potentially incorporating payment services such as Alipay+ and WeChat Pay into the Shift4 ecosystem. 

Upon conclusion, the board of directors of Global Blue has been reconstituted with appointees from Shift4 Payments. 

Shift4 CEO Taylor Lauber said: “By integrating Global Blue into our end-to-end platform, we’re further expanding our global reach and solidifying our position as a leading unified commerce provider that adds meaningful value to our merchants around the world.” 

Shift4 Payments also intends to remove Global Blue shares from the New York Stock Exchange and carry out a squeeze-out merger to acquire the remaining minority shares.