PayPal Holdings Inc. (NASDAQ: PYPL) is prepared to spend up to nearly USD 3 Billion a year on acquisitions and mergers, following its largest acquisition ever for iZettle for USD 2.2 Billion back in May, according to Reuters.
“We have a healthy balance sheet and we are ready to put it to work to buy more companies,” President and Chief Executive Officer, Dan Schulman, told Germany’s Handelsblatt business daily in an interview.
Schulman added that PayPal will invest the approximate USD 3 Billion that allow the Company to acquire specific capabilities.
“I wouldn’t rule out that we take on a bigger deal if there’s a good fit for us,” German newspaper quoted Schulman as saying in extracts from an interview released from its Monday edition, according to Reuters.
PayPal’s acquisition of iZettle expanded its services even more on a global scale. Upon closing of the transaction, the Company will gain in-store capabilities in 11 markets from Brazil, Denmark, Finland, France, Germany, Italy and many other countries in Europe.
The transaction will also accelerate PayPal’s in-store expansions in its own existing markets and bolster commerce solutions in Australia, U.K., and the U.S. The Company also says the acquisition will also strengthen its platform to help small businesses grow.
In June, PayPal announced it has agreed to acquire Hyperwallet for USD 400 Million in cash to enhance its payout capabilities, while improving the Company’s ability to provide an integrated payment capability.
Shortly after, PayPal announced news to acquire Simility, a fraud prevention and risk management platform, for USD 120 million. The acquisition will enhance PayPal’s ability to deliver fraud prevention and risk management solutions to merchants globally.