M&A activity continues its hot streak as payment firms seek additional product and geographic expansion. To start, Square announced their intent to acquire the Australian BNPL provider, Afterpay, in an all-stock deal valued at approximately $29 billion, which marked roughly a 30% premium on Afterpay’s closing stock price at the time. With this purchase, Square plans to integrate Afterpay into its existing Seller and Cash App offerings, which will enable Square’s merchants to offer BNPL and allow Cash App users to manage and pay installment payments directly within the app. Separately, EVO Payments announced their completed acquisition of Anderson Zaks, a UK-based omnichannel payment gateway. Anderson Zaks has an array of ISV relationships across the UK and Europe and handles approximately $2 billion in annual payment volume across its merchant base of 15,000.
In other M&A news, NCR announced their definitive agreement to acquire LibertyX, a cryptocurrency software and ATM provider. LibertyX ultimately provides a digital solution that is used on ATMs, kiosks, and POS systems for cryptocurrency exchanges. NCR plans on offering LibertyX’s capabilities to their network of banks and merchants. Lastly, Paysafe has signed a definitive agreement to acquire PagoEfectivo, an alternative payments platform based in Peru. This is Paysafe’s latest investment in the Latin American region as they continue to seek growth in that geographic area.