PayPal in advanced talks to buy payments group iZettle
The Nasdaq-listed payments giant is close to a deal that would scupper iZettle’s proposed public listing, Sky News learns.
The digital payments giant PayPal Holdings is in advanced talks about a takeover of iZettle in a move that would gatecrash one of the European technology sector’s biggest stock market flotations.
Sky News has learnt that PayPal could announce its intention to buy iZettle as soon as Friday morning.
The exact purchase price is unclear, although it is expected to be at a significant premium to the $1.1bn valuation that iZettle was reported to be seeking from its listing on Nasdaq Stockholm.
People close to the talks cautioned that a deal could still fall apart.
A takeover by PayPal, which has a market capitalisation of over $92bn, would underline the fast-changing nature of the world’s digital payments sector.
iZettle, which is backed by major early-stage investors such as Index Ventures and Dawn Capital, has become a big player in mobile payments infrastructure.
It was founded in Sweden as a provider of credit card readers to small businesses, but has outlined major ambitions to take advantage of the rapid evolution in artificial intelligence and cloud technology in order to develop new products for its customer base.
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By Mark Kleinman, City editor
Sky News
Thursday 17 May 2018


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