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Shopify advances their logistics and fulfillment capabilities with their largest acquisition to date. The company announced this week their acquisition of Deliverr, a fulfillment technology provider, for $2.1 billion. With this acquisition, Shopify will combine Deliverr’s technological capabilities with their Shopify Fulfillment Network (SFN) to better serve their merchants in managing inventory and distribution channels. Shopify has also unveiled a new service, Shop Promise, which enables merchants to offer faster delivery options to their customer base. Separately, LexisNexis announced this week their acquisition of BehavioSec, a behavior biometrics technology provider, for an undisclosed sum. This acquisition will aid in LexisNexis’ digital identity detection and authentication capabilities through combining its technology with their existing ThreatMetrix solution.
In other payments news, quarterly financial results are continuing to release and offer insights into performance indicators. Shift4, for example, reported $13.4 billion in end-to-end payment volume for the first quarter, an increase of 68% year-over-year. Their growth in volume has propelled their gross revenue less network fees to jump by 53% over the prior period.