Australia's Zip to acquire two buy-now-pay-later firms for A$160m

Reuters2021-05-24

[BENGALURU] Australia's Zip Co said on Monday it would acquire two buy-now-pay-later (BNPL) companies operating in Europe and the Middle East for a combined consideration of about A$160 million (S$164.7 million).

Zip will buy all the shares it does not already own in Europe-focused Twisto for about A$140 million, the company said, adding that the purchase would complement its presence in the United Kingdom.

The company also said it would acquire all the shares it does not hold in Spotii for A$21 million. Spotii is operational in the United Arab Emirates and Saudi Arabia, and Zip expects the acquisition to occur in the third quarter of 2021.

After reporting record quarterly earnings last month, Zip had said it would raise A$400 million through senior unsecured convertible notes to fund its expansion plans.

The company has been steadily beefing up its international footprint, picking up a strategic stake in the Philippines-based firm TendoPay and making a soft launch in Canada during the last quarter.

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Comments

88_TWB_88
2021-05-24
88_TWB_88
Comment & Like thks
EY12
2021-05-24
EY12
Like & comment[微笑]
ycwoo
2021-05-24
ycwoo
Like pls
- Eellen:
  Like and comment
- heximania:
  ofc
masterneo
2021-05-24
masterneo
Morning
- L1324:
  g' morning too
VSkemama
2021-05-24
VSkemama
Good morning all. Appreciate it if you could like and comment pls.
- heximania:
  sure
Ivarboneless
2021-05-24
Ivarboneless
Wow

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Appreciate it if you could like and comment pls.","listText":"Good morning all. Appreciate it if you could like and comment pls.","text":"Good morning all. Appreciate it if you could like and comment pls.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/131917934","repostId":1175885816,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4427403,"gmtCreate":1621822432376,"gmtModify":1680790573450,"authorId":3581984444466168,"author":{"id":3581984444466168,"idStr":"3581984444466168","authorId":3581984444466168,"name":"heximania","avatar":"https://static.tigerbbs.com/bd86363b09433494d0d0ca373221939c","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":131917934,"type":1,"supId":0,"prevId":0,"content":"sure","text":"sure","html":"sure"}],"langContent":"EN"},{"id":131911305,"gmtCreate":1621821036407,"gmtModify":1704362758391,"author":{"id":"3555543339613385","authorId":"3555543339613385","name":"Ivarboneless","avatar":"https://static.tigerbbs.com/3f76591f1325086e8566d40557800ab0","vip":1,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":7,"crmLevelSwitch":1,"idStr":"3555543339613385","authorIdStr":"3555543339613385"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/131911305","repostId":1175885816,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":73,"commentSize":12,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1175885816"}