Square Inc. said it has agreed to buy Afterpay Ltd., an Australian-based company, in an all-stock transaction for $29 billion (A$39 billion), to expand into consumer lending. The deal is the San Francisco-based company’s largest acquisition.
Afterpay lets consumers purchase items on credit and pay later with a series of installments. The Australian company had a market value of about A$27.9 billion at Friday’s close. The purchase is expected to close in the first quarter of 2022, the companies said in a statement.
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August 02, 2021 at 05:01AM
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Square to Acquire 'Pay Later' Company Afterpay for $29 Billion - Bloomberg
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