Square to acquire Australian fintech Afterpay in $29B deal
Cointelegraph
Published Aug 02, 2021 04:32AM ET
Updated Aug 03, 2021 06:40AM ET
Jack Dorsey’s cryptocurrency-friendly digital payments firm Square is expanding competition with global payments giants like PayPal by acquiring a major Australian lending company.
Square announced Sunday that the firm has entered into a scheme implementation deed to acquire all of the issued shares in fintech company Afterpay in a $29-billion deal. The transaction is based on the closing price of the Square common share and is expected to be paid in all stock in the first quarter of 2022.
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Written By: Cointelegraph
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