PayPal Will Soon Be Acquiring iZettle for About $2.2 Billion

PayPal buys Swedish start-up iZettle for $2.2bn in its biggest ever deal

The deal could well see PayPal move out of the online world and become a recognised form of payment in shops using iZettle's card readers, competing with the likes of Apple Pay.

"This is the largest acquisition in our company's history and significantly expands our in-store presence around the world, strengthening our platform to help millions of small businesses around the world grow and thrive in an omnichannel retail environment".

By joining forces with PayPal, which operates in 200 countries, iZettle will be able to accelerate its worldwide expansion, including to the U.S., the companies said. The Stockholm-based company had been aiming to achieve a valuation of $1.1bn, but was presented with double that amount by PayPal.

Schulman described the merging of iZettle and PayPal as a "strategic fit" combining shared values and culture with complementary product offerings and geographies.

The price being paid by PayPal - itself valued at more than $90bn (£66bn) - is double the valuation that iZettle was reported to be seeking from a listing on Nasdaq Stockholm.

Nikki Bella Reacts to John Cena Professing His Love on Today
The wrestler is pictured attending the Unequaled NBCUniversal Upfront campaign on May 14, 2018 in NY . He is such a sweetheart and I truly love him so much. "I love her.

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 transaction, which is expected to be United States dollars 0.01 dilutive to PayPal full year adjusted earnings per share, is subject to the usual closing conditions, including regulatory approvals.

Its revenue comes "per transaction" with no added charges for companies.

The deal is expected to close in Q3 2018, and Jacob de Geer, the Co-founder and CEO of iZettle, will stay on to lead the company, announced PayPal President and CEO Dan Schulman in a statement. While PayPal does not have a hold in these countries, iZettle has been a trusted name for some time. The San Francisco-based company continues to operate today as a standalone service within PayPal.

Related News:



Most liked

White House seizes on claim of Federal Bureau of Investigation spy inside campaign
"But the lead that they buried is - the word that you nearly never see in the Times [piece] ... is counterintelligence".

Jerry Richardson's Sale of Panthers to David Tepper Could Happen Tuesday
Since 2009, he's owned a 5% stake of the Pittsburgh Steelers, an investment he will have to sell in order to buy the Panthers. The Panthers played their first season in 1995 and have reached two Super Bowls, though they lost both of them.

Cavaliers fall to Celtics, 107-94, trail East finals 0-2
Although the Williamses reside in Leonard, Texas, the couple became fans and made weekly 60-mile trips to watch Smart him play. Obviously incidental, his shoulder hit me right square in my jaw so just had to go back and make sure everything was fine.

Stan Lee levies one billion dollar lawsuit against POW! Entertainment
Lee was himself accused last month of sexual battery and battery after he was sued by massage therapist Maria Carballo. Entertainment, LLC (POW! LLC), which is now owned by Hong Kong-based investment company, Camping International Ltd.

Transcripts shed light on Trump Jr.'s meeting with Russian lawyer
But the panel released her written responses to a letter that Senate Judiciary Chairman Chuck Grassley sent her previous year . Michael Conaway, R-Texas, but remained peripherally involved, approving subpoenas and other related actions.

Hart, Wilshere miss out as England announce squad for 2018 World Cup
Can't wait to get going! "It's an honour to be named in the England squad for the World Cup ". Can not wait to get out there and do the fans proud! Trent, you're off to the World Cup.

Nokia X6 with display notch, dual cameras launched: Price and features
Recently, the device received Bluetooth certification and now, HMD Global led Nokia has officially announced the X6 in China. Wrapping off its general specifications is a 3060mAh battery which supports fast charging capability.

Iraq election: Shia rivals of PM Abadi 'make gains'
Nationalist Shia cleric Muqtada al-Sadr is now on course to win the largest number of seats after the Iraqi election . It included full returns from only 10 of the country's 19 provinces, including the provinces of Baghdad and Basra.

Great internet debate: Do you hear 'Yanny' or 'Laurel'?
Or so they say, because no matter how much I mess with the audio I can hear only Laurel ... only Laurel . The acoustic frequency associated with Yanny is high , and with Laurel , low .

Donald Trump returns to Walter Reed to visit first lady
Trump, who turned 48 last month, had been experiencing a recurring issue with her kidney that her office describes as benign. The Slovenia-born former model underwent an embolization procedure , said her communications director Stephanie Grisham.

Honor 10 launched in India: Specifications, price and more
But the company has chose to skip the 64GB variant in India and will be only selling the 128GB storage version. The Honor 10 can be referred to as a cheaper alternative to the Huawei P20 but without the Leica cameras .

More Protests Along Palestinian Border
On Monday, American officials marked the opening of the US embassy in Jerusalem , which had been relocated from Tel Aviv. Nikki Haley denied that Monday's deaths had anything to do with the US decision to open its embassy in Jerusalem .

Home Depot's 1Q profit overshadowed by same-store sales
The company's distance from 52-week high price is -22.14% and the current price is 9.15% away from 52-week low price. The avg target $204.78 is 7.60% above the last ($190.31) price. (NYSE:HD) rating on Thursday, February 22.

China sends trade envoy to U.S. , welcomes Trump ZTE comments
A security firm, Kryptowire, disclosed in 2016 that Chinese phones are loaded with software that sends a user's data to Beijing. US President, Donald Trump, on Tuesday said trade negotiations are still underway with China and to "stay tuned".

York School budget proposes 0.22 percent tax levy increase
Heather Soroka, now serves as vice president of the school board and is seeking a second term on the Board of Education. Voters in the Mamaroneck and Rye Neck school districts will be deciding budgets for the 2018-19 school year Tuesday.