M&A Deal Summary

PayPal Acquires iZettle AB

On May 17, 2018, PayPal acquired information technology company iZettle AB from Zouk Capital and Victory Park Capital Advisors for 2.2B USD

Acquisition Highlights
  • This is PayPal’s 2nd transaction in the Information Technology sector.
  • This is PayPal’s 3rd largest (disclosed) transaction.
  • This is PayPal’s 1st transaction in Sweden.

M&A Deal Summary

Date 2018-05-17
Target iZettle AB
Sector Information Technology
Buyer(s) PayPal
Sellers(s) Zouk Capital
Victory Park Capital Advisors
Deal Type Add-on Acquisition
Deal Value 2.2B USD
Advisor(s) J.P. Morgan Securities (Financial)
Gernandt & Danielsson Advokatbyra KB (Legal)

Target

iZettle AB

Stockholm, Sweden
iZettle AB is a payment acceptance company provides mobile payment services. iZettle is based in Stockholm, Sweden.

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Buyer(S) 1

Buyer

PayPal

San Jose, California, United States

Category Company
Founded 1998
Sector Financial Services
Employees27,200
Revenue 29.8B USD (2023)
DESCRIPTION
Entrance to PayPal's corporate headquarters in San Jose, California.
Entrance to PayPal's corporate headquarters in San Jose, California.

PayPal enables any business or consumer with email to send and receive online payments securely, conveniently and cost-effectively. The Company's network builds on the existing financial infrastructure of bank accounts and credit cards to create a global payment system and delivers a product well suited for small businesses, online merchants, individuals and others underserved by traditional payment mechanisms. PayPal was founded in 1998 and is based in San Jose, California.


DEAL STATS #
Overall 14 of 21
Sector (Information Technology) 2 of 3
Type (Add-on Acquisition) 14 of 20
Country (Sweden) 1 of 1
Year (2018) 1 of 4
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-10 Swift Financial

Wilmington, Delaware, United States

Swift Financial Corp. (Swift Capital) is a provider of working capital solutions to small businesses. Swift Financial Corp. was established in 2006 and is based in Wilmington, Delaware.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-30 Jetlore

San Mateo, California, United States

Jetlore, Inc. is an AI-powered prediction platform for some of the world’s top retailers. Jetlore was founded in 2011 by Ph.D. students from Stanford University's computer science program with the goal of applying the power of machine learning to the retail market. Jetlore’s proprietary prediction platform empowers global online retailers such as Uniqlo and Nordstrom Rack to deliver personalized customer experiences to increase sales and loyalty.

Buy -

Seller(S) 2

SELLER

Zouk Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 600M EUR
Size Middle-Market
Type Sector Focused
DESCRIPTION

Zouk Capital is a private equity and infrastructure fund manager investing in the sustainable economy. Zouk's strategy is to capitalize on the investment opportunities created by the global shift to greater resource efficiency. Zouk's Technology Growth team seeks to help commercially proven technology companies to accelerate growth, increase market share and create value. The Firm's Infrastructure investment group looks to finance the construction of new high-yielding assets, by acquiring, developing and funding late-stage renewable energy infrastructure projects. Zouk was established in 1999 and is headquartered in London.


DEAL STATS #
Overall 5 of 7
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 2 of 3
Country (Sweden) 1 of 1
Year (2018) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-07 Space Time Insight

San Mateo, Massachusetts, United States

Space Time Insight, Inc. is a provider of machine learning powered analytics and IoT applications for transportation, energy and utilities organizations. Space Time Insight, Inc. was established in 2003 and is based in San Mateo, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-11 Zest

London, United Kingdom

Zest is an EV charging company that provides fast charging where people regularly park, and removing financial barriers for landowners. For landowners such as local authorities, enterprises, and parking operators, the company removes the financial and operational barriers to committing to large-scale charger deployments. This includes everything from planning and installing the chargers to ongoing maintenance. Zest is based in London.

Buy -
SELLER

Victory Park Capital Advisors

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2007
Size Large
Type Sector Agnostic
DESCRIPTION

Victory Park Capital Advisors is an alternative investment firm focused on providing debt and equity capital to small and middle-market companies in a variety of sectors of situations. The Firm generally looks to provide funding to 'sound' companies in need of liquidity and/or restructuring. Victor Park's target investment size range is $5 to $100 million. Victory Park Capital Advisors was formed in 2007 and is headquartered in Chicago, Illinois.


DEAL STATS #
Overall 6 of 11
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 4
Country (Sweden) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-26 United Automobile Insurance

Miami Gardens, Florida, United States

United Automobile Insurance is a provider of non-standard auto insurance products in the United States, with a primary focus on serving various Florida and Texas markets. United Automobile Insurance was formed in 1989 and is based in Miami Gardens, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-13 Borro

New York, New York, United States

Borro Ltd. is a powerful alternative to selling luxury assets or traditional channels of financing that are often either too slow, invasive & burdensome or, in some cases, unavailable. Borro was formed in 2008 adn is based in New York.

Sell -