After Paypal recently completed the most expensive transaction in the history of the $2.2 billion acquisition of Swiss financial technology company iZettle, the US payment company began looking for new acquisition targets.
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In an interview with Handelsblatt in Germany, Dan Schulman, president and CEO of PayPal, said, “We have a healthy balance sheet and we plan to acquire more companies.”
Schulman added that PayPal is preparing to invest $3 billion a year in acquisitions to ensure that it has some special business capabilities.
The German “Business Daily” quoted Shulman as saying in an interview: “If I find the right target, I will not rule out that we will conduct a larger transaction.”
Since it was spun off from eBay in 2015, PayPal has moved from dealing primarily with its parent’s online transactions to offering a complete digital payment service.