PayPal acquires Swedish startup iZettle for $2.2 billion ahead of IPO

Bulgaria Pay Pal Acquires a European Company for $ 2.2 Billion

PayPal has agreed to buy iZettle, one of Europe's best-known financial technology startups for Dollars 2.2 billion, the companies said on Thursday.

The startup has been compared to Square, a payments platform co-founded by Twitter chief executive Jack Dorsey that made it easy to take credit card payments using smartphones or tablets.

US-based PayPal, a unit of eBay, said that its biggest acquisition to date would strengthen its platform for handling payment transactions at small businesses, particularly in Europe and Latin America.

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".

Mamata Banerjee says BJP is attacking democracy, agrees with Mayawati
Addressing the media here, Mayawati accused the BJP of misusing the government ever since they came to power at the Centre. Mayawati called up HD Devegowda and convinced him to take the support from the Congress.

India's Hindu nationalists defeat Congress in state election
Sources say that opposition leaders are waiting for SC order tomorrow after which they will decide the date of their protest. The party also agreed to accept Karnataka JD (S) chief H D Kumaraswamy as the chief minister.

Teenage girl Anastasia Kriegel's body found in Dublin
"The scene is now preserved pending a full Garda technical examination and the body remains at the scene". Superintendent John Gordon from Lucan Garda Station said they're treating the discovery as suspicious.

Being the biggest ever acquisition for Paypal, the payment giant is obviously taking a huge bet by acquiring the Stockholm headquarter startup.

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 was up 1.7% to 79.20 on the stock market today.

IZettle expects to generate gross revenues of approximately $165 million United States dollars in 2018, with approximately $6 billion USD of total payment volume (TPV) expected to be processed on its platform. The company went public at 21.50 in January, reached 38 on March 23 and has since dropped out of the IBD 50. The transaction ranks as the largest acquisition in PayPal's history, The Wall Street Journal reported. The completion of this transaction is subject to customary closing conditions, including regulatory approvals.

Related news:

Hot News

isis-killer-beheading-video-story-top 'Deadpool 2' Outpacing The First Movie As It Tops Fandango's Weekend Sales
May 18, 2018 - 09:24
After a bit of rehab at the X-Men mansion followed by a very brief stint as an X-Men trainee, Deadpool figures out his mission. I would love to see him in a team-up sort of thing, like a mano a mano or a great female character from the X-Men universe.

isis-killer-beheading-video-story-top Missing Camden toddler spotted in Iowa almost a month after disappearance
May 18, 2018 - 09:14
The family are believed to be travelling in a 1996 Ford Aerostar van and frequently changing license plates to avoid detection. Dakota Ray went missing with her parents from SC but authorities believe the couple may be in or on their way to Minnesota.

isis-killer-beheading-video-story-top Maurizio Sarri set to put pen-to-paper on contract
May 18, 2018 - 07:04
The lack of results at Chelsea have sparked a tide of change as manager Antonio Conte will not be returning next season. That would make Sarri, 59, the highest paid manager in Serie A after Juventus boss Max Allegri.

isis-killer-beheading-video-story-top Bumble Bee CEO indicted for tuna price fixing
May 18, 2018 - 06:27
The CEO of Bumble Foods has been charged with fixing the price of canned tuna as part of a wider conspiracy that would have pushed up costs for shoppers.

isis-killer-beheading-video-story-top Standalone Obi-Wan Kenobi Movie Is Reportedly Happening
May 18, 2018 - 05:59
What should we make of these rumblings? "Scene." This is starting to look good folks but as always, take it with a grain of salt. Obi-Wan will allegedly begin with Kenobi living as a hermit on Tatooine, as he secretly watches over the young Luke Skywalker.

isis-killer-beheading-video-story-top N lawmakers express reservations over Nawaz Sharif's statements
May 18, 2018 - 05:38
The meeting was convened to deliberate selection of party candidates in Punjab for the upcoming general elections. Lawmakers said that these recent statements will create problems for the party during the elections.

isis-killer-beheading-video-story-top Teairra Marí Taking Legal Action Against 50 Cent for Reposting Revenge Porn
May 18, 2018 - 05:24
The reality star believed that his actions were meant to "publicly humiliate" her after she had broken up with him, reported TMZ . Mari's attorneys, Lisa Bloom and Walter Mosley , plan to file a police report later today along with the suit.

isis-killer-beheading-video-story-top Moto 1S with 5.7-inch display, Snapdragon 450, dual rear cameras announced
May 18, 2018 - 04:53
Moto 1s has the most attractive design in its price range and comes in two colours which are Victoria Blue and Charlotte Powder. There's a fingerprint sensor on the back and the phone also comes with a P2i water-resistance and dust resistance certification.

isis-killer-beheading-video-story-top Ethiopia, Sudan, Egypt to set up research team on controversial dam
May 18, 2018 - 04:53
The Nigerian billionaire is expected in the country this Thursday (May 17) for an emergency meeting with the factory's management. "One step forward to Ethiopia ", the country's foreign affairs spokesman, Meles Alem, told The Associated Press .

isis-killer-beheading-video-story-top NKorea suspends talks with South, threatens to cancel United States summit
May 18, 2018 - 04:23
Asked if he will still insist on the denuclearisation of the Korean Peninsula, Trump said, "Yes". She also added that the exercises are "certainly not provocative".

isis-killer-beheading-video-story-top ICC consider calling time on pre-match coin toss
May 18, 2018 - 04:14
In the history of Test cricket which has seen 2303 matches so far, it has been part of the custom. The International Cricket Council is considering scrapping the coin toss in test matches.

isis-killer-beheading-video-story-top Hartford police officer stabbed in neck, suspect in custody
May 18, 2018 - 04:13
Police investigate the scene after a police officer was stabbed in the neck in Hartford , Conn., May 17, 2018. Officials are not releasing the identity of the officer, who remains in critical condition. "A tough day.

isis-killer-beheading-video-story-top ICC consider getting rid of coin toss before Test cricket
May 18, 2018 - 04:11
Numerous others, including Ricky Ponting, Michael Holding , Ian Botham, Shane Warne and Steve Waugh , have also endorsed the idea. It makes for good tension, everyone is focused on that coin when it's in the air and the winning captain's decision and so on.

isis-killer-beheading-video-story-top Alec Baldwin & Wife Hilaria Welcome a Baby Boy!
May 18, 2018 - 04:11
The couple are already parents to daughter Carmen, 4, son Rafael, 2, and son Leonardo, 18 months. Alec Baldwin and his wife Hilaria have welcomed their fourth child together, a baby boy.

isis-killer-beheading-video-story-top Vladimir Putin calls for 'political process' on Syria
May 18, 2018 - 04:09
The Astana peace talks were launched on January 23-24, 2017, with the aim of putting an end to violence and improving the humanitarian situation in war-torn Syria.