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Paypal to spend $3 billion a year on M&A - CEO to German paper

Reuters  |  FRANKFURT 

(Reuters) - Holdings Inc is on the lookout for further acquisitions following its recent takeover of iZettle, the Swedish fintech startup, for $2.2 billion, in the U.S. payments company's biggest ever deal.

"We have a healthy balance sheet and we are ready to put it to work to buy more companies," told Germany's business daily in an interview .

is ready to invest up to $3 billion a year on acquisitions that enable it to acquire specific capabilities, Schulman added.

"I wouldn't rule out that we take on a bigger deal if there's a good fit for us," the German-language newspaper quoted Schulman as saying in extracts from an interview released from its Monday edition.

Since separating from in 2015, has shifted from mostly processing for its parent company to offering a suite of

(Reporting by Douglas Busvine; Editing by Keith Weir)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, July 08 2018. 23:55 IST