Swedish payments firm Klarna buys price comparison service Pricerunner (updated)
02/11/2021 09:12
(Adds detail)
STOCKHOLM, Nov 2 (Reuters) - Swedish investment firm Creades
CREADa.ST said on Tuesday it had agreed to sell price
comparisons company Pricerunner to Swedish payments firm Klarna
for 1.06 billion Swedish crowns ($124.36 million).
Klarna will pay 40% of the price in cash and the rest with
Klarna shares, Creades said in a statement.
Klarna, a "buy now, pay later" company expected to make its
stock market debut in the coming months, said separately that
Pricerunner would bring product reviews, rich product discovery
and price comparisons to the Klarna app. urn:newsml:reuters.com:*:nL8N2PW143
"The acquisition will serve to strengthen our bank, card and
payment services and support a competitive global landscape," it
said in a statement.
Creades said it expected to finalise the deal in the first
quarter of 2022 and that it would own around 43,000 shares in
Klarna following the transaction.
Pricerunner has operations in Sweden, Denmark, Norway and
Britain.
($1 = 8.5233 Swedish crowns)
(Reporting by Anna Ringstrom; editing by Niklas Pollard)
((anna.ringstrom@thomsonreuters.com; +46 8 502 423 74; Reuters
Messaging: anna.ringstrom.thomsonreuters.com@reuters.net))