Fiserv Completes Acquisition of Marketing Platform BentoBoxNovember 23, 2021
On Monday, Fiserv, a Nasdaq-listed global provider of payments and financial services technology solutions, announced that it had completed the acquisition of BentoBox, a marketing and commerce platform.
According to the press release, BentoBox has over 7,500 restaurant concepts on its portfolio globally that use its digital marketing tools, which include products like websites, ordering, and events management for modern-focused restaurants.
“Closing this transaction further expands our Clover® dining solutions and industry-leading commerce and business management capabilities, enabling nearly 200,000 restaurants of all sizes to deliver unique and differentiating diner experiences, from quick and casual to full service,” Frank Bisignano, President and Chief Executive Officer of Fiserv, commented. No details on the amount of the transaction were disclosed as of press time, nor additional information about the conditions of the agreement.
Metrics for Q3 2021
Last month, Fiserv announced its financial numbers for Q3 of 2021. The company saw a jump of nearly 10% in its adjusted revenue. Other metrics, including internal revenue growth and adjusted earnings per share, also increased substantially. In addition, during the last three months, Fiserv repurchased nearly 3.2 million shares of common stock for $365 million. For the first nine months of 2021, the financial services technology solutions provider repurchased a total of 13.4 million shares of common stock for $1.57 billion.
In Q3 of 2021, Fiserv announced the selection of New Jersey as a location for its expansion. In the announcement, Fiserv increased its EPS outlook to a range of $5.55 to $5.60. In contrast, the company tightened its full-year outlook for internal revenue growth to 11%.
“We posted another strong quarter of double-digit adjusted revenue and adjusted EPS growth as we continue to invest in organic and inorganic growth and demonstrate unmatched execution,” said Bisignano at that time. In June 2021, Deutsche Bank partnered with Fiserv for a joint venture to facilitate payment acceptance in Germany.
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