Categories Earnings, Finance

PayPal to acquire Hyperwallet

PayPal Holdings Inc. (PYPL) has agreed to acquire Hyperwallet, a firm that specializes in payouts to sellers, for $400 million. The transaction is expected to close in the fourth quarter of 2018, subject to regulatory approvals. Hyperwallet offers services in 200 countries and has several popular companies as customers including vacation rental marketplace HomeAway and travel company Expedia Inc (EXPE). Hyperwallet is backed by financial firms Primus Capital and Raymond James.

PayPal considers Hyperwallet to a good fit for its marketplace payouts business and believes this deal will help boost its capabilities in this area. Based on data from the Internet Retailer, marketplace sales comprised over half of global online retail sales last year. The deal with Hyperwallet will also give PayPal access to a meaningful client base.

Hyperwallet offers services in 200 countries and has several popular companies like Expedia as customers

Following the deal, PayPal will have multi-currency payment capabilities in a large number of markets with multiple payment options. The acquisition will strengthen PayPal’s business and help expand its operations significantly.

Last month PayPal shelled out $2.2 billion to acquire fintech firm iZettle in its biggest acquisition to date. The company believes this is a good time to find acquisitions that complement its business and provide opportunities for growth and expansion.

Related: PayPal agrees to buy iZettle for $2.2 billion in the biggest acquisition till date

Most Popular

Netflix (NFLX): Four reasons why this leader will not be easy to overthrow

Netflix (NASDAQ: NFLX) has for long been the undisputed king of the streaming space. The streaming industry is seeing massive growth with several new players entering the field. It also

Fastenal (FAST) sees strong post-COVID prospects: Is the stock a buy?

The demand for services that involve minimal human interaction is on the rise as people continue to practice social distancing. Fastenal Co. (NASDAQ: FAST), a market-leading supplier of vending machines,

HEXO Corp. (HEXO) Earnings: 3Q21 Key Numbers

HEXO Corp. (NYSE: HEXO) reported its third-quarter 2021 earnings results today. Net revenue rose 2% year-over-year to CAD22.6 million. Net loss narrowed to CAD20.7 million from a loss of CAD19.5


Add Comment
Viewing Highlight