ibusinesslines.com
ibusinesslines.com October 17, 2018


PayPal gains bigger in-store presence with $2.2B acquisition

18 May 2018, 10:15 | Justin Tyler

PayPal gains bigger in-store presence with $2.2B acquisition

PayPal gains bigger in-store presence with $2.2B acquisition

It would be the largest ever deal for PayPal, Bloomberg reported.

The digital payments giant PayPal Holdings is in advanced talks about a takeover of iZettle in a move that would gatecrash one of the European technology sector's biggest stock market flotations.

The company was planning to raise about 2 billion Swedish crowns ($228 million) from the IPO.Established in 2010, iZettle is known for offering small businesses and individuals a way to take payments using mini credit card readers that turn smartphones or tablets into cash registers. Since Paypal now does not have a strong offline presence in these markets, it will look to leverage on iZettle to penetrate into these markets.


Upon closing, PayPal gains in-store capabilities in the following 11 markets: Brazil, Denmark, Finland, France, Germany, Italy, Mexico, Netherlands, Norway, Spain and Sweden.

PayPal president Dan Schulman said: "This combination brings together iZettle's in-store expertise, recognised brand and digital marketing strength with PayPal's global scale, mobile and online payments leadership, and trusted brand reputation".

PayPal was even cast aside by EBay earlier this year in favour of Dutch fintech startup Adyen, which is also thought to be plotting an IPO with a valuation of more than $1bn. According to a statement by the two companies, iZettle expects to generate gross revenue of about $165 million in 2018, with roughly $6 billion of total payment volume expected to be processed on its platform. He was convinced that his company could continue to grow substantially under the new owner and that their cultures would be aligned.



Other News

Trending Now

Benzema, Martial, Payet left off France World Cup squad
With English football fans continuing to bicker over Gareth Southgate's World Cup squad, France have now announced their team for this summer's tournament. .

Phoenix wins the draft lottery
Yet, the team with the best luck was the Sacramento Kings who vaulted from a predicted seventh slot all the way up to second. I've spent a lot of time watching Duke's Grayson Allen and Kansas' Devonte Graham over the last four years.

Netflix releases Sense8 series finale trailer ahead of June airdate
So if you're one of said collective, log onto Netflix on June 8 to experience one final adventure with the sensates. Season two ended with Wolfgang in a precarious position, and as Will says in the trailer, "Wolfgang needs us".

NJ school bus collision leaves 2 dead, some critically hurt
Multiple people are dead after a school bus taking children on a field trip was hit by a dump truck on a busy New Jersey highway. There is no federal requirement for seat belts on full-sized school buses, but six states including New Jersey require them.

Some Republicans see progress on 'Dreamer' immigration deal
Whatever the House passes would have to be merged with a separate farm bill from the Senate , which has not yet been released. Bob Goodlatte's (R-VA) hardline anti-immigrant bill, which doesn't now include a path to citizenship for DACA beneficiaries.

Mischievous anti-hero Deadpool returns in his second fun, bawdy film
If you really want to drop someone with words it has to be more personal and that's part of the fun of this insult contest . No spoilers here, but there is a layered structure in the narrative here that was missing in the original.

World Health Organization says Ebola outbreak has spread to DR Congo city
The 2014-16 West Africa outbreak became particularly deadly when it spread to the capitals of Guinea, Sierra Leone and Liberia. Someone sick with Ebola might not be able to provide a comprehensive list of everyone they've come in contact with.