Givex Acquires Counter Solutions
It is the fourth acquisition for Givex in the last 18 months, expanding its product offerings and global footprint. Givex Information Technology Group acquired Counter Solutions “The acquisition of Counter Solutions marks the fourth acquisition for Givex in the last 18 months, which showcases our commitment to international strategic growth,” said Don Gray, CEO of […]
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It is the fourth acquisition for Givex in the last 18 months, expanding its product offerings and global footprint.
Givex Information Technology Group acquired Counter Solutions
“The acquisition of Counter Solutions marks the fourth acquisition for Givex in the last 18 months, which showcases our commitment to international strategic growth,” said Don Gray, CEO of Givex. “Counter Solutions’ products complement the Givex portfolio and allow us to add unattended retail functionality to our current POS and kiosk offerings.”
Founded in 1989, UK-based Counter Solutions offers many technology solutions that align with Givex’s products, including POS, kiosk and digital ordering, inventory management, and more. Givex was attracted to Counter Solutions’ WAY2PAY self-service & smart-refrigeration platform, which allows customers to unlock refrigerators by preauthorising a debit or credit card on a pin pad, and select, scan and pay for their items themselves.
With the support of Givex’s end-to-end technology platform and deep team, Counter Solutions can seamlessly offer Givex products, like GivexPOS, online ordering, kitchen display system (KDS), and more enterprise clients without having to create partnerships with various external partners.
“Counter Solutions is the perfect complement to the Givex product suite and team, which expands our global footprint,” said Jurgen Ketel, Managing Director of Givex EMEA. “We have made major headway in our growth in the UK and throughout Europe and the Middle East, and this acquisition offers another opportunity to expand the breadth and depth of our clients under one common platform.”
Counter Solutions counts some of the biggest brands in the UK as clients, including Morrisons, Marks & Spencer, John Lewis & Partners, and Waitrose & Partners, and will add approximately 1,000 merchant locations to Givex’s global footprint of more than 115,000 merchant locations using at least one Givex service. Givez intends to pay for this acquisition through a combination of cash, debt, and GITL shares (subject to the final acceptance by the Toronto Stock Exchange), and total consideration will be consistent with prior acquisition multiples and terms.
“Our significant progress over the last two years has led to the consideration of how we scale up our operations in line with our vision and values,” said Richard Bernans, Managing Director of Counter Solutions Group. “We have found the right home with Givex, and there is a huge opportunity to leverage each other’s strengths and fast-track our growth.”
