Payments firm Adyen plans June listing amid flurry of deals
* Company seen valued at $7-11 billion
* Shareholders to sell 15 percent stake
* Adyen sales grew 38 percent in 2017
* Paypal bought competitor iZettle for $2.2 bln last week (Updates with details on competitive landscape)
AMSTERDAM, May 24 (Reuters) – Adyen, a Dutch company that processes payments for Airbnb, Uber, Spotify and Netflix, plans to list on the Amsterdam stock exchange in June in the midst of a wave of dealmaking in the digital payments industry.
Sources close to the matter told Reuters last month that Adyen was eyeing a valuation of 6-9 billion euros ($7-$11 billion), which would make it the largest tech listing by a European company since Spotify’s April debut in New York, and one of the biggest by a European fintech to date.
The digital payments sector has seen a string of deals as companies look to acquire new technologies in a global business where upstarts are rapidly taking market share from traditional payment processors.
Last week, U.S. giant PayPal agreed to buy smartphone payment terminal provider iZettle for $2.2 billion in the midst of the Swedish company’s own initial public offering.
Adyen, which competes primarily with WorldPay owner Vantiv and France’s Worldline to serve large online retailers that need to handle cross-border payments, said in a statement its shareholders planned to sell a 15 percent stake.
In January, Adyen won the contract to handle eBay’s payments, beating out former in-house service PayPal, which eBay spun off three years ago. Adyen has also been expanding into in-store “point of sales” payment processing.
“This offering provides us with the freedom to keep building the company, while offering our shareholders a path to liquidity,” said chief executive and co-founder Pieter van der Does in the statement.
Read More
By Toby Sterling
Reuters
24 May, 2018
FROM THE WEB
Square launches its Square Stand payments system in the UK
TNW
24 May, 2018
Why China’s Payment Apps Give U.S. Bankers Nightmares
Bloomberg
May 23, 2018
Cash is still king even as digital payments are set to rise, according to PayPal’s CTO
CNBC
23 May, 2018
Touché, OCBC to launch ‘highly secure’ fingerprint-based credit card payments
The Business Times
WED, MAY 23, 2018 – 10:46 AM
Jack Dorsey’s Square wants to lead digital payments in Australia
The Sydney Morning Herald
23 May 2018 — 10:38am
Walmart and Dunkin’ Donuts Gaining on Apple Pay and Samsung Pay, But Starbucks Is Tops
Fortune
22 May, 2018
FROM THE TUBE
Jack Ma Inspirational Dialogue with Tel Aviv University Students
TAUVOD
Published on May 6, 2018
PayPal CEO & Jim Cramer Talk China, Diversity, Alexa and More!
TheStreet: Investing Strategies
Published on May 7, 2018
Wells Fargo Reimagines Mobile Experience with ‘Pay with Wells Fargo’
Wells Fargo
Published on May 10, 2018
Counting the cost of going cashless
Financial Times
Published on May 10, 2018
Technology insights from Day 2
NRF Expo 2018 | Retail Assist Vlog
Retail Assist
Published on Jan 17, 2018
Technology insights from NRF Expo 2018 |
Retail Assist Vlog
Retail Assist
Published on Jan 16, 2018