PayPal has been on a very aggressive acquisition streak over the past 18 months. Making strategic investments will always help any company expand its market presence accordingly. In the case of PayPal Holdings, Inc, the latest acquisition comes in the form of iZettle. A positive development which will see $2.2bn change hands in the process.
It is evident even payment giants like PayPal need to keep evolving as a whole. Acquiring other companies will play an integral role in the process. The CEO of iZettle will also join PayPal and continue to lead the firm he co-founded accordingly. It is a good day for iZettle and its employees, as this acquisition shows the company is doing a lot of things right.
Another big Acquisition for PayPal
PayPal acquired this company for a very specific reason. The payment processor is expanding its presence in the world of products and services for small businesses. Moreover, they want to offer a seamless commerce experience for merchants. Acquiring iZettle will play a key role in the process.
PayPal COO Bill Ready adds:
“We’re thrilled to welcome the iZettle team to the PayPal family and are excited to expand the ways we serve our small business customers. “iZettle brings a suite of products and services that allows merchants to meet their customers where they are – online, in store or via mobile. This is another step in our journey toward democratizing commerce tools to help businesses of all sizes thrive.”
It will be interesting to see how this acquisition pans out for both parties. For iZettle nothing will change, as the company will remain in operation as it always has. For PayPal, their expertise continues to grow, as does their range of products and services. Exploring new options is always a worthwhile venture, even if the price of the acquisition is rather steep.