Thursday, October 3

Tag: Sweden

Paypal Acquires Leading Swedish Online Payments Provider
ACQUISITION

Paypal Acquires Leading Swedish Online Payments Provider

Paypal, the leading online payments system is ready to make its biggest gamble on point-of-sale transactions, small businesses and markets out of America, as the competition between Square, Stripe and others in the world of payments. Indeed, the online payment giant is set to acquire iZettle – a Sweden-based payments provider that holds the tag of “Square of Europe” for a reported fee of $2.2 billion in cash. The deal is expected to close in the third quarter of this year and iZettle’s co-founder and CEO Jacob de Geer is expected to remain at the head of his company. Other important executives of the company will also keep their roles in the business post-acquisition. With this deal, Paypal announced that they will make the firm become “a center of excellence” for in-store and offline p...
IKEA Invest up to 3000 Crore in India, Will Open 25 Stores by 2025
BUSINESS

IKEA Invest up to 3000 Crore in India, Will Open 25 Stores by 2025

Swedish home furnishings chain IKEA today said it has signed a memorandum of understanding (MoU) with the Gujarat government to set up its stores in the state with an expected investment of up to Rs 3,000 crore in the long term. IKEA, which received government approval in 2013 for its Rs 10,500-crore proposal to open retail stores under 100 percent FDI, has earlier signed MoUs with Karnataka, Telangana, Maharashtra, Uttar Pradesh and Haryana to open retail stores. The company plans to open 25 stores by 2025 in nine Indian cities. The MoU with Gujarat government stands for a mutual commitment from both parties and intends to provide clarity on working methods and ensure a legally and ethically compliant, corruption-free business environment, IKEA said in a statement. "Gujarat is...