Zip Announces $491m Takeover of BNPL Rival Sezzle

Buy now, pay later operator Zip is seeking to buy ASX-listed rival Sezzle in a $491 million deal that Zip says will accelerate its path to profitability, as it faces tougher industry conditions, The Sydney Morning Herald reported.

Zip said on Monday it was offering 0.98 Zip shares for every Sezzle share, which represented a 22% premium to Sezzle’s closing price. The announcement came as Zip also reported a $214.3 million loss for the December half.

Read the full report: Sydney Morning Herald.

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Tags: Australia

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.