PayPal in talks to buy Sweden’s iZettle in $2.2 billion deal: WSJ

FILE PHOTO: The PayPal logo is seen at a high-tech park in Beersheba
FILE PHOTO: The PayPal logo is seen at a high-tech park in Beersheba, southern Israel August 28, 2017. REUTERS/Amir Cohen/File Photo

May 17, 2018

(Reuters) – PayPal Holdings Inc <PYPL.O> is in advanced talks to buy iZettle AB <IPO-IZET.ST> in a deal that could value the Swedish fintech at around $2.2 billion, the Wall Street Journal reported on Thursday, citing sources familiar with the matter.

A deal could be announced by the end of Thursday, according to the WSJ report, while Sky News, which reported the talks first, said it could come by Friday morning.

IZettle last week said it planned to list on the Nasdaq Stockholm stock exchange this year, which would make it one of the biggest European financial technology companies to list.

The company was planning to raise about 2 billion Swedish crowns ($228 million) from the IPO..Established in 2010, iZettle is known for offering small businesses and individuals a way to take payments using mini credit card readers that turn smartphones or tablets into cash registers.

PayPal and iZettle were not immediately available for comment.

(Reporting by Parikshit Mishra in Bengaluru; Editing by Sriraj Kalluvila)

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