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Saturday, Jun 15, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Technology

Givex adds more functionality to its global fintech offerings

The platform comprises self-order, self-checkout, smart refrigeration and menu management technology options.

Givex
Photo by Clay Banks on Unsplash

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 comprises self-order, self-checkout, smart refrigeration and menu management technology options, and has many enterprise retail partners throughout the United Kingdom.

“The acquisition of Counter Solutions marks the fourth acquisition for Givex in the last 18 months, which showcases 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 offering merchants customer engagement, point of sale and payment solutions in a single program. The platform is also integrated with 1000+ technology partners, with a fully end-to-end solution that also delivers customer insights. The platform is presently used by some of the world’s biggest brands, including over 115,000 active locations over 100 countries. The addition of Counter Solutions platform adds point of sale, kiosk, as well as digital ordering, inventory management and more. The big draw for Givex is the WAY2PAY self service platform, which gives customers the option to use refrigerators through a preauthorization a debit and credit card on a pin pad, and select, scan and pay for items themselves.

“Counter Solutions is the perfect complement to the Givex product suite and team, which expands our global footprint. 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,” said Jurgen Ketel, managing director of Givex EMEA.

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

“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. 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. Givex offers the best elements of a global enterprise such as brand, scale and resources, whilst retaining the best elements of smaller or emerging enterprises, such as agility and community. We are excited to progress this journey and join forces with Givex,” said Richard Bernans, managing director of Counter Solutions Group.

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