GMT Frankfurt London New York Sydney Tokyo
Live Quotes
Live Crypto
July 08, 2018

Paypal to spend $3 billion a year on M&A: CEO to German paper

Paypal to spend $3 billion a year on M&A: CEO to German paper
Paypal to spend $3 billion a year on M&A: CEO to German paper

FRANKFURT (Reuters) - PayPal Holdings Inc is on the lookout for further acquisitions following its recent takeover of iZettle, the Swedish fintech startup, for $2.2 billion, in the U.S. payments company's biggest ever deal.

"We have a healthy balance sheet and we are ready to put it to work to buy more companies," President and CEO Dan Schulman told Germany's Handelsblatt business daily in an interview .

Paypal is ready to invest up to $3 billion a year on acquisitions that enable it to acquire specific capabilities, Schulman added.

"I wouldn't rule out that we take on a bigger deal if there's a good fit for us," the German-language newspaper quoted Schulman as saying in extracts from an interview released from its Monday edition.

Since separating from online marketplace eBay in 2015, PayPal has shifted from mostly processing online transactions for its parent company to offering a suite of digital payment services.

Related Articles

Staff

We offer free education in forex, commodities, stock market, CFD and Cryptocurrencies by trading forecast, technical analysis, technical tools, and business news, we also offer real time quotes, live charts, market overview, market data and economic calendar.

Contact Form

Name

Email*

Message*