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Stripe and private equity firm Advent International have reportedly made a joint bid to acquire PayPal in a deal worth about $53.4 billion.
Reuters Reports indicate that the offer was made earlier this month and is backed by nearly $50 billion in committed bank financing. Under the proposal, Stripe and Advent would jointly own PayPal, with each holding an equal stake.
This isn’t the first time Stripe has been linked to a potential acquisition of the payments giant. previously Reports In February it indicated that the company was exploring a potential acquisition and was involved in preliminary discussions, although no formal proposal emerged at the time.
If the acquisition is completed, it will unite two of the biggest names in digital payments. PayPal It serves approximately 440 million active accounts and handles approximately $1.8 trillion in payment volume through 2025. Meanwhile, businesses are using Stripe to process $1.9 trillion In payments during the same period. In addition, Stripe’s valuation rose to $159 billion Earlier this year.
PayPal has not yet responded publicly to the offer.
The potential deal comes at a pivotal time for PayPal. CEO Enrique Llores took office in March after Inc Profit warning. Since then, there have been plans to cut at least $1.5 billion in costs over the next two or three years as PayPal looks to return to stronger growth. Reports It also suggested that the company intends to reduce its workforce by about 20%.
PayPal, Stripe, and Advent International did not immediately respond to our requests for comment.
