M&A activity continues to move ahead this week as corporations begin to release their quarterly and first half 2021 earnings reports. To start, Klarna continues their acquisition spree as they mark their third transaction of the month. This week, Klarna announced their acquisition of APPRL, an ISV platform centered on marketing online brands and retailers. Similar to their acquisition of HERO earlier this month, this transaction is positioned to help Klarna’s users stay more connected and informed with online sellers who can now better market and promote their products through Klarna’s suite of services. Just last month, Klarna raised more than $600 million in funding which valued the company at around $45 billion. Klarna is evidently using this capital to further expand their products and services as well as to reach into new geographical areas.
In other M&A news, OLB Group announced they have signed a letter of intent (LOI) to acquire a CBD merchant portfolio. Collectively, these merchants process over $300 million in annual volume. Following the closing of this deal, the merchants will utilize OLB Group’s SecurePay payment gateway for processing. OLB Group anticipates that this deal will generate an additional $13 million in revenue. Terms of this agreement were not disclosed.