The agreement to buy Global Blue follows Shift4’s acquisition early last year of Finaro, an Israel-based processor with extensive operations in Europe, for $525 million. It followed up that deal with its move in June to buy a majority stake in Germany’s Vectron Systems AG, a provider of merchant services and point-of-sale technology.

Shares of Shift4 Payments slid after it said it would buy Global Blue Group, whose shares have surged close to the proposed deal price. Shift4 stock was down 14% at $108.11 in early trading, erasing most of its year-to-date gains. Shares of Global Blue, meanwhile, jumped 18% to $7.33.

Center Valley-based Shift4, the payments technology company founded by billionaire SpaceX astronaut Jared Isaacman, is expanding with the acquisition of another payments company.

Payments processor Shift4 has agreed to buy travel and retail-focused financial technology platform Global Blue in a deal valued at $2.5 billion, the companies said on Tuesday. The acquisition will give Shift4 access to Global Blue's tax-free shopping and payments technology and help it solidify its foothold across Europe,