Zip In Merger Talks With Sezzle
Buy now pay later merchants Zip are the latest Aussie company to partake in acquistion talks with a powerful US tech company.
Unlike, Afterpay, who netted a record A$39 billion deal with Jack Dorsey’s Square (now called Block), Zip is in discussions with direct competitor Sezzle, with talks of a merger between the two.
“Sezzle confirms that it is currently engaged in preliminary discussions with Zip regarding a possible merger,” a Sezzle spokesman said in a statement.
“No definitive agreement has been reached between the parties in relation to any transaction. There is no certainty at this time that these discussions will result in a transaction.”
Zip chief executive Larry Diamond said, “The Zip board remains committed to ensuring any transaction delivers value to shareholders and will always be disciplined in its assessment of potential opportunities.
“It will only pursue transformational transactions that help accelerate the delivery of Zip’s broader strategic objectives such as enhanced scale in core markets, improved customer and merchant propositions and a faster path to profitability through significant synergy opportunities.”