PayPal agrees $2.2bn deal for Swedish payments firm iZettle

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

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.

iZettle, best known for offering small payment machines to small merchants, ranks among the rivals of Square, founded by Twitter CEO Jack Dorsey. The chip-card reader and its app for smartphone-based mobile commerce meet global security standards. iZettle's service is available in 12 countries which includes United Kingdom, Finland, Denmark, Germany, Italy, Netherlands, Spain, Italy, Germany, and Brazil, among others.

As per the deal, the position of iZettle's co-founder and CEO Jacob de Geer will remain intact. iZettle's entire executive team will also continue the operation as before. It would be the largest ever deal for PayPal, Bloomberg reported.

This combination brings together iZettle's in-store expertise, recognized brand and digital marketing strength with PayPal's global scale, mobile and online payments leadership, and trusted brand reputation.

Scientists Made Snails Remember Something That Never Happened to Them
Once the reflex action had been established in the trained snails, they were euthanised and their abdominal ganglia removed. If transferring memories from a snail to another sounds weird, that's because it's the first experiment of its kind.

FORMER EBAY BAE PayPal has announced that it will buy mobile payment company iZettle in a multi-billion dollar deal. It has since expanded into financing services, with a presence in Brazil, Mexico and Europe.

Stockholm-based iZettle is present in 11 countries. The opportunity to become part of PayPal was too good to pass up. The company has grown its revenues at a CAGR of approximately 60% from 2015 to 2017. iZettle expects to reach EBITDA profitability by 2020 on a standalone basis.

Nasdaq-listed PayPal is a giant in the sector, disclosing in first quarter results last month that it processed $49bn (£36.3bn) in mobile payments during the three months to 31 March. Close sources claim that the IPO filing forced Paypal management to speed up the acquisition process. The completion of this transaction is subject to customary closing conditions, including regulatory approvals.

Related:

  • Laurel or Yanny? The Audio Version of 'The Dress,' Explained

    Laurel or Yanny? The Audio Version of 'The Dress,' Explained

    An audio recording of what some people hear as a robotic voice saying " Laurel ", has been heard by others as " Yanny ". What you expect to hear is, to a large extent, what your brain will hear-and what your brain hears is all that matters.
    IPL: RCB decimate KXIP by 10 wickets

    IPL: RCB decimate KXIP by 10 wickets

    Ashwin Run Out for a duck! The hitter from West Indies has been hitting the ball hard and far amassing fast runs in the process. Tye threw his wicket once again to a short ball as he edged it back to the wicketkeeper and there was no looking back for RCB .
    Conte warns Chelsea flops to shape up ahead of Cup final

    Conte warns Chelsea flops to shape up ahead of Cup final

    The 26-year-old helped Leicester City to win an unprecedented Premier League title under Claudio Ranieri in 2015-16. There are other people to judge our season and [say] which are the problems to finish out of the Champions League".
  • Trump walks back Bolton comment on 'Libya model' for denuclearization

    Trump walks back Bolton comment on 'Libya model' for denuclearization

    Pyongyang on Tuesday threatened to cancel the summit set for June 12 in Singapore , blaming United States demands for "unilateral nuclear abandonment".
    Malaysia's ex-deputy premier Anwar Ibrahim released after getting full pardon

    Malaysia's ex-deputy premier Anwar Ibrahim released after getting full pardon

    Surrounded by media and supporters, Anwar walked out of a hospital Wednesday where he was recovering from surgery. Malaysia's former opposition leader Anwar Ibrahim has been released from custody and pardoned .
    Stalker 2 Development Confirmed, Launches in 2021

    Stalker 2 Development Confirmed, Launches in 2021

    A similar message appeared in the official group of the game " Cossacks 3 ", which also deals with the Studio GSC Game World . There's bugger all info available at the moment, but fans of S.T.A.L.K.E.R. can rejoice: you're getting a sequel.
  • Buhari greets Muslims on Ramadan fast

    Buhari greets Muslims on Ramadan fast

    But even among American Muslims who say religion is "not too" or "not at all" important, a substantial share (41%) say they fast. Secretary of State, Mike Pompeo, in a statement on Wednesday, May 16 wished Muslims a peaceful and blessed Ramadan, NAN reports.
    Stevens Expects Counterpunch From LeBron In Game 2

    Stevens Expects Counterpunch From LeBron In Game 2

    James can't be happy with his team just standing around on 50-50 balls, and allowing open threes over and over again. Aaron Baynes held his own when he was out on the floor too, obtaining six rebounds and shooting 4-7 from the field.
    Judge: Mueller can prosecute Manafort

    Judge: Mueller can prosecute Manafort

    She cited an August 2017 memo by Deputy Attorney General Rod Rosenstein that prosecutors had filed in the case. The judge there is weighing a similar request to dismiss a tax- and bank-fraud case against him.
  • European Union  top diplomats to follow through JCPOA

    European Union top diplomats to follow through JCPOA

    It would seem, that the Obama brokered deal was so one-sided that Iranians had to bribe officials to go along with it. Other signatories to the JCPOA, however, criticized Trump's decision to unilaterally pull out.
    Elon Musk Explains Improvements to SpaceX's Falcon 9 Block 5 Rocket

    Elon Musk Explains Improvements to SpaceX's Falcon 9 Block 5 Rocket

    The only vacuum-optimized Merlin engine Falcon 9's second point includes a 5% push growth to 220,000 pounds-force, " he explained. The mission served as the first flight of Falcon 9 Block 5 , the final substantial upgrade to SpaceX's Falcon 9 launch vehicle.
    Baynes plays well as Celtics down Cavs

    Baynes plays well as Celtics down Cavs

    James, who managed just 15 points in the Game 1 loss, has won five consecutive East playoff series after losing the series opener. Asked in the locker room by ESPN after the game if his head was OK, James nodded solemnly and said, "I'm OK".

Comments

Latest news

Call of Duty: Black Ops 4 Will Be A Battlenet Exclusive
Developer Treyarch stated you will be able to play fan favourite characters from the Black Ops universe through varied locales. Which will include characters spanning the history of the Black Ops series and be playable both solo and in teams.

DOJ And FBI Reportedly Investigating Cambridge Analytica
Meanwhile, Facebook announced that it would be notifying users via this website in case their data had been misused. MPs said it was "absolutely astonishing" that Facebook's chief executive refused to appear before the committee.

Kim must send his nukes to US: Bolton
After their April 27 meeting, Kim and Moon issued a vague vow for the "complete" denuclearization of the Korean Peninsula. Seoul's Ministry of Unification said Tuesday that Pyongyang had invited eight South Korean reporters to the event.

'Hats Off': Senior Prank Earns High Praise From Police
Then scattered some bricks about and in the photo they look like they could have come from the building. However, the front portion of 90s Grand Am is actually missing.

Does 'Solo: A Star Wars Story' have an opening crawl?
Solo's set-up follows that formula, but without the universe-altering mythology of the ancient battle between Jedi and Sith. Not everything is as it seems, and stuff you might have thought happened one way actually happens a different way.

Hundreds of thousands remain without power after deadly storm pounds US
Two people died and thousands of homes and businesses were without power after strong storms pounded the Northeast on Tuesday. Damage to train tracks from severe weather has suspended Brunswick, Maryland's MARC's Brunswick Line service.

Firebrand cleric Moqtada Sadr forward in Iraq's parliamentary elections
The Iranian-backed Shi'ite militia chief Hadi al-Amiri came in second with about 1.2 million votes and will control 47 seats. Washington's preferred candidate, Prime Minister Haider al-Abadi, has been knocked into third place.

Uber will no longer force victims of sexual assault into private arbitration
There is no publicly available data for the number of sexual assaults by Uber , Lyft, or other rideshare companies. Assault and harassment cases are now exempt from that requirement.

President Trump Says First Lady 'Doing Really Well'
White House deputy press secretary Lindsay Walters said Melania Trump is in "good spirits". After all, he is the President of the United States and has a jam-packed schedule.

Wall Street drops on concerns over US-China trade woes, rising inflation
Stocks are opening moderately higher on Wall Street, led by gains in technology, health care and energy companies. Chip maker Nvidia fell 3.8 percent; drug maker Celgene slid 3.9 percent.

Best-selling novelist Tom Wolfe dies at 87
Colter joined amNewYork as associate editor in 2017, and has worked as a news editor and designer in New York City since 2011. Reports suggest he was battling an infection and pneumonia in hospital when he died.

Soros-backed foundation leaving Hungary
It would also impose a 25-percent tax on foreign donations to NGOs that back migration. Earlier against Soros and his Foundation in Hungary was launched large-scale campaign.

Barcelona star Lionel Messi shuts down Man City hopes
But despite an impressive debut season in France, speculation has been rife that Neymar could be set to move on again. Messi told TyC Sports on Tuesday that 'it would be bad , for all that Ney means to Barcelona '.

American Christians Celebrate Historic Opening of US Embassy in Jerusalem
Laurie said in Psalms 122:6 Christians are commanded to "pray for the peace of Jerusalem" - "May those who love you be secure". The message was clear but Hagee said his position was misrepresented and "the ugliest of lies".

Johnson enjoys best ever Players round
Also at 67 was Keith Mitchell, who only got into the tournament Wednesday when Paul Casey had to withdraw with an injury. And he putted like he was fed up with not seeing enough go in. "The greens were receptive, they're rolling flawless ".

Other news