Klarna acquires SOFORT for €150 million

Swedish payment solution provider Klarna has finalized their purchase of their German based rival SOFORT.

The Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term was announced today, December 18th 2013, for the amount of €150 million.

The 2 entities will continue to work independently from one another. Together they have over 25 million registered users and hold 10% of the Northern European market, and will be processing over $10 billion a year.

Klarna paid more than half the amount in cash to SOFORT with the assistance of shareholders Sequoia Capital and General Atlantic. The new venture will allow Klarna to expand their presence in European countries like the UK, Italy, France, Spain, and Poland. Klarna CEO and Co-founder Sebastian Siemiatkowski, did mention there are no current intentions on entering the US market, however he finds the idea “exciting”.

“We are delighted to be given the opportunity to work together with the exceptional team at SOFORT. Together we have an incredible opportunity to provide the most trusted payment solution to our merchants and make it simpler and safer for consumers to shop online.” Siemiatkowski added.

“SOFORT and Klarna supplement each other in our service offerings as well as in our growth ambitions. Together we are providing online merchants the opportunity to offer both popular payment methods out of one hand in Germany and to develop further product innovations,” Dr. Gerrit Seidel, CEO of SOFORT.

Klarna was established in 2005, with the premise of offering simpler and safer payment solutions. They offer pay-by-invoice solutions and risk monitoring and assessment services. Klarna serves over 18,000 online shops in Sweden, Norway, Denmark, Finland, Germany, Austria and the Netherlands.

SOFORT offers innovative products for secure Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term of merchandise and digital goods for online stores. SOFORT provides its services to over 25,000 merchants and processes over 2.5 million transactions a month. The company offers support to Germany, Austria, Switzerland, Belgium, France, the Netherlands, the UK, Italy, Spain and Poland.