CM – Twitter founder Jack Dorsey’s Square buys Afterpay for $ 39 billion

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Payment platform Square will acquire Afterpay as part of a $ 39 billion deal with the founders of Afterpay to stay with the company.

Square will acquire all of the shares in Afterpay under an agreement with an implied value of $ 29 billion ($ 39 billion).

Jack Dorsey, Co-Founder and CEO of Square, said the two companies had a common purpose.

« We built our business around making the financial system fairer, more accessible and more inclusive, and Afterpay has built a trusted brand based on those principles, ”he said.

Cara Waters is technology and startup editor for The Age and The Sydney Morning Herald based in Melbourne.

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