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Nets acquires full stake in orderbird

Nets acquires full stake in orderbird | Fintech Finance

Nets, part of the leading European PayTech Nexi Group, has acquired full ownership of German-based orderbird, a leading provider of integrated POS-software solutions in the hospitality sector in Europe. Nets was a long-standing partner and shareholder in orderbird through its German-based digital payment provider Concardis. The current transaction follows Nets increasing its stake in orderbird in late 2021 and completing this full acquisition further strengthens its merchant services proposition in the hospitality vertical in a region where it already leads through Nets / Concardis merchant services. The orderbird brand will remain and the company will continue to operate as a separate business unit within Nexi. 

orderbird offers intuitive SaaS solutions and complementary services for independent restaurateurs and neighbourhood businesses in Germany, Austria, Switzerland and France. Its integrated software solutions help hospitality merchants operate their businesses more efficiently by streamlining their dockets and mobile ordering processes while encompassing reservations and menu management, data insights into all business metrics and financially compliant data exports and digital payment capabilities – all on a cloud-native infrastructure. 

Robert Hoffman, CEO Nets Merchant Services and Concardis, said: “Together with orderbird, we underline our commitment to the integrated software market while further enhancing our propositions to hospitality clients. Our goal is to ensure European businesses benefit from the rapid digitisation of payments via solutions like orderbird’s vertically-focused SaaS platform, which enhances the customer experience while enabling merchants to run their business more efficiently. We’re proud to welcome orderbird fully into the Nexi family as it continues to raise the bar in meeting the evolving needs of restaurants and neighbourhood businesses across Europe.”  

The orderbird management team will continue in their current roles and its CEO, Mark Schoen, is looking forward to stronger relations becoming part of the Nets / Nexi Group and the potential prospects for the company:  

“Making neighbourhood businesses more successful is what orderbird is all about. Our customers are thriving because they can access the same benefits of digitisation as their larger competitors. We share Nets / Nexi’s belief in delivering leading-edge solutions to customers in today’s rapidly evolving environment and look forward to broadening our business presence together in Europe.” 

“We are very pleased to have Nets / Nexi Group as a partner on our side,” added Jakob Schreyer, founder and Chief Strategy Officer of orderbird. “Especially in view of the accelerating trend towards seamless vertical payment and banking software solutions, this is a landmark deal. With this partnership, it was particularly important to us that we could maintain orderbird‘s total focus on enhancing our leading propositions and meeting the needs of our customers. This will allow us to concentrate on our next goal: expanding our vertical software payment capabilities more broadly and establishing orderbird as a force to be reckoned with in the payment services sector.”  

Following the transaction through Nets, Nexi will own 100 percent of Orderbird with an aggregate cash out of ca. EUR 100 million including also previous share purchases. 

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