Hyperwallet completes US$400 million acquisition by PayPal

Date Closed

November 15, 2018

Lead Office

Vancouver

Value

400.00 Million USD

On November 15, 2018, Hyperwallet System Inc. ("Hyperwallet"), a leading global payout platform, announced that it has completed the process of its acquisition by PayPal Holdings, Inc. ("PayPal") for US$400 million. The acquisition will enhance PayPal’s payout capabilities and allow it to provide payment solutions to ecommerce platforms and marketplaces globally due to access to Hyperwallet’s localized, multi-currency payment distribution capabilities in over 200 markets.

Founded in Vancouver, British Columbia, and headquartered in San Francisco, California, Hyperwallet operates the award-winning technology platform and global financial network that provides brand-enhancing B2C and P2P services for hundreds of global corporations and financial institutions.

McCarthy Tétrault LLP advised Hyperwallet with a team led by David Frost that included Donovan Plomp (Labour and Employment) and Vincent Yip (Technology).

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