PayPal confirms that it is buying payments startup iZettle for $2.2B in an all-cash deal

Techcrunch ------ PayPal is taking its biggest bet yet on point-of-sale transactions, small businesses, and markets outside of the US, as it looks to raise its game against Square, Stripe and others in the world of payments: the company has confirmed that it is buying iZettle — the Stockholm-based payments provider commonly referred to as the “Square of Europe” — for $2.2 billion in an all-cash deal. The deal — which is expected to close in Q3 2018 — will see iZettle’s co-founder and CEO Jacob de Geer stay on leading iZettle. He will report to PayPal’s COO Bill Ready. Others in iZettle’s exec team will also stay on to run the business, which will become a “center of excellence” for in-store and offline payments in Europe, PayPal said. To learn more click on the picture below to read the article.