PayPal to Buy Japanese Unicorn Paidy in $2.7 Billion Deal
- Paidy’s Cummer and Sugie will continue to lead the business
- PayPal hopes deal will ‘accelerate our momentum’ in Japan
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PayPal Holdings Inc. said it will acquire the Japanese upstart Paidy Inc. for 300 billion yen ($2.7 billion) as it seeks to deepen a push into buy-now-pay-later products.
The acquisition will be “minimally dilutive” to adjusted earnings per share in 2022, PayPal said Tuesday in a statement. The deal, which is expected to close in the fourth quarter, will be paid for principally with cash, PayPal said.