18/05/2018
Nota de prensa

PAYPAL ADQUIERE IZETTLE, PARTICIPADA POR SANTANDER INNOVENTURES Y OTROS, POR $2.200 MILLONES (€1.865 MILLONES).

PayPal Holdings, Inc. (NASDAQ: PYPL) announced today that it has agreed to acquire iZettle, the leading small business commerce platform in Europe and Latin America, for $2.2 billion USD. The acquisition of iZettle significantly expands PayPal´s in-store presence, strengthening PayPal´s platform to help millions of small businesses around the world grow and thrive in an omnichannel retail environment.

This combination brings together iZettle´s in-store expertise, recognized brand and digital marketing strength with PayPal´s global scale, mobile and online payments leadership, and trusted brand reputation. 

Upon closing, PayPal gains in-store capabilities in the following 11 markets: Brazil, Denmark, Finland, France, Germany, Italy, Mexico, Netherlands, Norway, Spain and Sweden. PayPal also gains near-term in-store expansion opportunities into other existing PayPal markets, and acceleration of omnichannel commerce solutions in Australia, U.K. and U.S. 

iZettle expects to generate gross revenues of approximately $165 million USD in 2018, with approximately $6 billion USD of total payment volume (TPV) expected to be processed on its platform. The company has grown its revenues at a CAGR of approximately 60% from 2015 to 2017. iZettle expects to reach EBITDA profitability by 2020 on a standalone basis. 

Once the acquisition closes, Jacob de Geer will continue to lead iZettle, which will operate as an integral part of PayPal´s merchant services offering, reporting to PayPal´s Chief Operating Officer Bill Ready. iZettle´s experienced management team, who have a demonstrated track record of scaling at pace, will continue running the business, ensuring continuity for customers, employees and partners. Upon closing, iZettle will become the European center of excellence for PayPal´s in-store product and services offerings. 

The transaction is expected to be approximately $0.01 dilutive to PayPal´s previously communicated full year 2018 non-GAAP EPS. The transaction is expected to close in the third quarter of 2018. The completion of this transaction is subject to customary closing conditions, including regulatory approvals. The two companies will continue to operate independently until close. 

A slide presentation with an overview of the transaction can be accessed through the company´s Investor Relations website at investor.paypal-corp.com. PayPal will host an Investor Day on May 24, 2018 in San Francisco, Calif. and management will provide additional details related to the transaction. A live webcast of the event will be available at investor.paypal-corp.com starting at 8:30 a.m. PDT. 

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

About PayPal 

Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal Holdings, Inc. (NASDAQ: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal´s 237 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies.

About iZettle 

iZettle is on a mission to help small businesses succeed in a world of giants. Founded in Stockholm in 2010, the financial technology company revolutionized mobile payments with the world´s first mini chip card reader and software for mobile devices. Today iZettle´s commerce platform for small businesses in Europe and Latin America provides tools to get paid, sell smarter and grow your business. iZettle´s current largest shareholders are Zouk Capital, Index Ventures and 83North. 

According to Lainformación, Santander Innoventures, shareholder of the company since 2013 with a 1% stake, would have obtained just over €20 million with the sale. The firm also took part in the two following capital increases. Other investors in the company are Cleantech Europe (10,1%) and the swedish fund Creandum (over 3%).

Nuevo informe: Informe de Impacto Económico y Social del Capital Privado en las operaciones de Middle Market en España. 2018 (ASCRI). Análisis de las inversiones entre €10 y 100M. por entidades de Capital Privado entre los años 2005 y 2012 (datos hasta 2015). Comparativa con empresas similares sin Capital Privado en ventas, ebitda, empleo, activos…

Otros informes: El Capital riesgo Informal en España 2017. Madurez del Venture Capital en España. 2017 (Also in english). La Financiación de startups de Energía en España. 2016. El tiempo de las desinversiones en Private Equity en España. 2015 (Also in english).