About Atmia
About Atmia

PayPal ready to spend $3bn a year on acquisitions

Wednesday, July 11, 2018

by PayPal Holdings

In May PayPal agreed its biggest ever acquisition, striking a $2.2 billion deal to buy Sweden's iZettle.

In the two months since then, the former eBay unit has also forked out $400 million for e-commerce payout platform Hyperwallet and $120 million on fraud prevention outfit Simility.

The spending frenzy is part of a concerted effort by PayPal to move beyond its roots, extending its reach to all corners of the payments market, becoming a "one-stop solution for global commerce".

In an interview with German business paper Handelsblatt, Schulman has made clear that the spending is not over, saying: "We have a healthy balance sheet and we are ready to put it to work to buy more companies."

And deals even bigger than the iZettle takeover could be on the table: “I wouldn’t rule out that we take on a bigger deal if there’s a good fit for us," he tells Handelsblatt.

Leave a comment (Your email address will not be displayed or shared)

Leave this field empty

No comments have been added. Please use the form above to add your comments.

Meet Our
Global Sponsors