TechTaffy

tech:

taffy

PayPal acquires iZettle for $2.2 billion

By TechTaffy Desk

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]

Just in

Fundings

Rivos raises $250M

Santa Clara, Calif.-based Rivos, a RISC-V accelerated platform company focusing on data analytics and Generative AI, has raised $250 million in its Series A-3 funding round
Industry

IBM, Canada, and Quebec invest $137M to strengthen semiconductor industry

IBM, the Government of Canada, and the Government of Quebec announced agreements to develop the assembly, testing and packaging capabilities for semiconductor modules at IBM Canada's plant in Bromont, Quebec.
Around the web

Net neutrality is back: U.S. promises fast, safe and reliable internet for all — NPR

Consumers can look forward to faster, safer and more reliable internet connections under the promises of newly reinstated government regulations, writes Emma Bowman of NPR.
AI

AI is ‘a new kind of digital species,’ Microsoft AI chief says — Quartz

Mustafa Suleyman, chief executive of Microsoft AI, said during a talk at TED 2024 that AI is the newest wave of creation since the start of life on Earth, and that “we are in the fastest and most consequential wave ever,” writes Britney Nguyen in Quartz.
Around the web

It’s baaack! Microsoft and IBM open source MS-DOS 4.0 — ZDNet

Microsoft and IBM have joined forces to open-source the 1988 operating system MS-DOS 4.0 under the MIT License, writes Steven Vaughan-Nichols.