RTTNews | Sep 7, 2021 10:24PM EDT

22:24 Tuesday, September 7, 2021 (RTTNews.com) - PayPal Holdings Inc. (PYPL) said that it has agreed to buy Paidy, two-sided payments platform and provider of buy now, pay later solutions in Japan, for 300 billion yen or about US$2.7 billion, principally in cash.

PayPal noted that Russell Cummer, founder and executive chairman of Paidy, and Riku Sugie, president and CEO of Paidy, will continue to lead the Paidy team.

The transaction is expected to close in the fourth quarter of 2021. It is subject to customary closing conditions, including the receipt of regulatory approvals.

PayPal expects that the acquisition will be minimally dilutive to non-GAAP earnings per share in 2022.

Read the original article on RTTNews ( https://www.rttnews.com/3223828/paypal-to-buy-paidy-for-about-2-7-bln-quick-facts.aspx)

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