Nets, part of European paytech conglomerate Nexi Group, has acquired Germany’s orderbird, a provider of cloud-based point of sale (POS) systems for independent restaurateurs and SMBs in Europe.
Following the transaction through Nets, Nexi will own 100% of orderbird with an aggregate cash out of €100 million including previous share purchases.
Founded in 2011, orderbird offers software solutions and additional payment services for businesses in Germany, Austria, Switzerland and France, and claims to have over 14,000 active customers.
Nets was previously a long-standing partner and shareholder in orderbird through its German-based digital payment provider Concardis.
The current transaction follows Nets increasing its stake in orderbird to 40% in late 2021.
The aim of the partnership is to strengthen orderbird’s offering of integrated payment services to customers in the hospitality industry and accelerate the company’s international growth.
Despite the change in ownership, the orderbird brand will remain and the company will continue to operate as a separate business unit within Nexi. The current management team will also remain in charge of the business.