Givex adds more functionality to its global fintech offerings

Givex Information Technology Group (TSX:GIVX)(OTCQX:GIVXF).) closed its acquisition of hospitality and retail platform Counter Solutions Holdings.

Counter Solutions brings its platform, WAY2PAY, to the table. It includes self-ordering, self-checkout, smart refrigeration and menu management technology options, and has many retail partners for businesses across the UK.

“The acquisition of Counter Solutions marks the fourth acquisition for Givex in the past 18 months, demonstrating our commitment to strategic international growth. Counter Solutions’ products complement the Givex portfolio and allow us to add unattended retail functionality to our current POS and kiosk offerings,” said Don Gray, CEO of Givex.

Givex is a fintech company that offers merchants customer engagement, point of sale and payment solutions in a single program. The platform is also integrated with 1000+ technology partners, with a complete end-to-end solution that also delivers customer insights. The platform is currently used by some of the world’s biggest brands, including over 115,000 active locations across 100 countries. The addition to the Counter Solutions platform adds point of sale, kiosk, as well as digital ordering, inventory management and more. The big draw for Givex is the self-service platform WAY2PAY, which gives customers the opportunity to use fridges through a pre-authorisation of a debit and credit card on a pin pad, and choose, scan and pay for goods themselves.

“Counter Solutions is the perfect complement to the Givex product suite and team, expanding our global footprint. We have made great strides in our growth in the UK and across Europe and the Middle East and this acquisition provides a new opportunity to expand the breadth and depth of our customers under one common platform, says Jurgen Ketel, CEO of Givex EMEA.

Some of the UK-based brands Counter Solutions currently services include Morrisons, Marks & Spencer, John Lewis & Partners and Waitrose & Partners. The purchase will be paid for in a combination of cash, debt and shares.

“Our significant progress over the past two years has led to the assessment of how we scale up our business in line with our vision and values. We’ve found the right home with Givex, and it’s a huge opportunity to leverage each other’s strengths and accelerate our growth. Givex offers the best elements of a global business such as brand, scale and resources, while retaining the best elements of smaller or emerging businesses, such as agility and community. We are delighted to continue this journey and join forces with Givex, says Richard Bernans, CEO of Counter Solutions Group.