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FT Partners Advises SpotOn on the Sale of its Sports & Entertainment Business to Shift4

Overview of Transaction

  • On October 2, 2023, SpotOn announced it reached a strategic agreement to sell its Sports & Entertainment business to Shift4, while retaining select assets to support the growth of its restaurant business
  • Following the deal, SpotOn will no longer pursue business in the Sports & Entertainment vertical and will refocus teams and investment to supercharge growth in the Restaurant space
  • SpotOn Restaurant has delivered high double-digit growth year over year and has been rated the #1 restaurant point-of-sale by real users
  • The Company began serving restaurants in 2019 and has aggressively grown its market share each year becoming one of the most comprehensive end-to-end restaurant technology platforms on the market, giving restaurant operators everything they need to drive profit - from an intuitive point-of-sale system with solutions for online ordering, reservations, and labor management to hardware designed to improve employee efficiency and service speed

Significance of Transaction

  • The unique structure of the deal enables SpotOn to accelerate product development in support of its restaurant business while also ensuring that its Sports & Entertainment clients are well supported going forward

FT Partners' Role

  • FT Partners served as the strategic and financial advisor to SpotOn
  • FT Partners previously advised SpotOn on its $300 million Series F financing in May 2022, its $300 million Series E financing in September 2021 and its $125 million Series D financing in May 2021
  • This transaction underscores the long-term nature of many of FT Partners’ relationships as well as our continued success in providing tailored advisory services to top-tier FinTech companies globally