TechTaffy

tech:

taffy

PayPal acquires iZettle for $2.2 billion

649 views

PayPal is acquiring iZettle, a small business commerce platform in Europe and Latin America, for $2.2 billion. The transaction is expected to close in the third quarter of 2018.

Once the acquisition closes, Jacob de Geer, founder and CEO of iZettle will continue to lead iZettle, which will operate as part of PayPal’s merchant services offering. He will be reporting to PayPal’s chief operating officer Bill Ready.

Evercore is acting as sole financial adviser to PayPal, and Skadden, Arps, Slate, Meagher & Flom and Roschier are acting as its legal advisers with regard to the transaction. J.P. Morgan Securities is acting as sole financial adviser to iZettle, while Gernandt & Danielsson is acting as its legal adviser.

[Image courtesy: iZettle]

Also see:

IT

MongoDB, Alibaba extend partnership for enhanced database services

MongoDB and Alibaba Cloud, the digital technology component of Alibaba Group, have announced a four-year extension to their existing global partnership.
IT

HCLTech selects SAP SuccessFactors human experience management suite

Global technology company HCLTech has announced the extension of its strategic partnership with SAP.
IT

Meta sells Giphy to Shutterstock at a $262M loss

Shutterstock has entered into a definitive agreement to acquire Giphy from Meta, the company formerly known as Facebook, for $53 million.
IT

SAP, Google Cloud announce expanded partnership to unleash the power of business data

SAP and Google Cloud have announced an expansion of their partnership, allowing customers to build an end-to-end data cloud that integrates SAP Datasphere solution with Google's data cloud.
Artificial Intelligence

Intel, BCG collaboration to deliver enterprise-grade Generative AI

Boston Consulting Group (BCG) and Intel are joining forces in a strategic collaboration to accelerate the adoption of generative artificial intelligence (GenAI).