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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