Nexi, the Italian payments giant, buys Germany's Orderbird for $140-150M to expand its SMB strategy
Companies, agencies, institutions, etc
Nexi
Nets
SIA
Nets/Concardis
Digital+ Partners
Metro Group
SMB
CSO
Nets / Nexi Group
European PayTech
First Data
Covid-19
ARR
Nets Merchant Services
People
Nexi
Mark Schoen
Jakob Schreyer
Lockdowns
Covid
Orderbird
Robert Hoffmann
Groups
Italian
Danish
European
Physical locations
Europe
Places
Orderbird
Locations
Italy
Germany
Concardis
U.S.
Events
Orderbird
Summary
Despite all of that, the company overall grew ARR by 35% during the period and actually turned profitable — not because business boombed but because Orderbird itself turned to right-sizing and cutting out all of the cash-burning efforts it was making to grow pre-Covid.It will be interesting to watch how Orderbird flies on the windstream of a new, much bigger owner.“Together with Orderbird, we underline our commitment to the integrated software market, while enhancing our offer to hospitality clients.” said Robert Hoffmann, CEO of Nets Merchant Services and Concardis, in a statement.
As said here by Ingrid Lunden