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.
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.