In today’s top payments news around the world, Ripple said it has come to a deal to buy 40 percent of international payments specialist Tranglo, while Cazoo Holdings is reportedly set to go public by merging with a special purpose acquisition company (SPAC). Plus, Deliveroo has chosen to price its initial public offering (IPO) at the lower end of the range.
Ripple To Buy 40 Pct Of Tranglo, Ramp Up Cross-Border Payments In Asia
Ripple, the blockchain-based payments provider, said it has come to an arrangement to purchase 40 percent of international payments specialist Tranglo. The relationship will let the California-based Ripple satisfy increasing client demand in Asia. Asheesh Birla, general manager of RippleNet at Ripple, said in a press release that “Tranglo’s robust payments infrastructure” and its record of good customer service make it “an ideal partner” as Ripple grows in Southeast Asia.
Online Car Sales Platform Cazoo Set To Go Public In SPAC
The pandemic has powered a dramatic rise in digital sales of autos. Cazoo Holdings, a British seller of pre-owned vehicles, has enjoyed that digital shift — and is now reportedly headed toward going public in a deal that is said to be worth $7 billion to $8 billion. To that end, Cazoo is set to combine with a New York-listed SPAC, AJAX I. SPACs are shell companies that bring in funds by going public, and then go shopping for a current business or businesses.
Deliveroo’s London IPO Valued At Low-Rung $10.5 Billion
Deliveroo, a food delivery company, has opted to price its IPO at the low end of the range, which provides the British company with a 7.6 billion pound (approximately $10.5 billion) valuation. While the original high was 4.60 pounds (about $6.32), shares will be offered at 3.90 pounds (about $5.36) a piece. Shares start trading on the London Stock Exchange (LSE) under the ticker ROO on Wednesday (March 31). The delivery firm will issue shares totaling approximately 1 billion pounds (about $1.4 billion).
