previous acquisitions? In its documentation filed ahead of its proposed stock market listing, iZettle made an underlying loss (Lbitda) of 73mln krona, or roughly £6.18mln or US$8.36mln, in the first three months of 2018.
Schulman described the merging of iZettle and PayPal as a "strategic fit" combining shared values and culture with complementary product offerings and geographies. As far as this acquisition is concerned, iZettle being part of PayPal would help the company to expand its service to Europe.
Upon closing of the deal, PayPal will gain in-store capabilities in Brazil, Denmark, Finland, France, Germany, Italy, Mexico, Netherlands, Norway, Spain and Sweden.
PayPal and iZettle were not immediately available for comment. Close sources claim that the IPO filing forced Paypal management to speed up the acquisition process.
PayPal bought out mobile payments startup Paydiant for $280 million in 2015, and it continues to operate as a PayPal unit under its own brand today.