Klarna Closes on SOFORT Deal
March 13, 2014
Swedish online payment provider Klarna said its acquisition of German competitor SOFORT, which was first announced in December , has cleared all regulatory hurdles and is now complete. The companies will serve e-commerce merchants across Europe as The Klarna Group. The combined company is used by 25 million consumers in 14 European countries to make online purchases.
“We are excited to complete this acquisition and look forward to working together with SOFORT’s talented team,” said Sebastian Siemiatkowski, co-founder and CEO of Klarna. “The Klarna Group will shape the future of online and mobile payments. Together we can accelerate growth and continue our journey toward being the world’s favorite way to buy.”
Klarna reportedly paid $150 million to acquire SOFORT.