"Combining our assets and expertise with a global industry leader like PayPal allows us to deliver even more value to small businesses to help them succeed in a world of giants", iZettle chief executive Jacob de Geer said in the release.
The decision from iZettle comes just over a month after Spotify became arguably Europe's largest startup to refuse to sell up to a USA or Asian investor, listing on the New York Stock Exchange for about $27 billion.
The deal could well see PayPal move out of the online world and become a recognised form of payment in shops using iZettle's card readers, competing with the likes of Apple Pay.
The chip-card reader and its app for smartphone-based mobile commerce meet global security standards. iZettle's service is available in 12 countries which includes United Kingdom, Finland, Denmark, Germany, Italy, Netherlands, Spain, Italy, Germany, and Brazil, among others.
Are Analysts Bullish about Premier Oil plc (LON:PMO) after last week?
Finally, Peel Hunt reaffirmed a "hold" rating on shares of ITE Group in a research report on Friday, May 4th. The stock of J Sainsbury plc (LON:SBRY) has "Hold" rating given on Monday, November 20 by Deutsche Bank.
Announcing the takeover, the companies said that by joining forces with PayPal, iZettle would be able to accelerate its worldwide expansion including to the US.
Founded in 2010 in Stockholm by Jacob de Geer and Magnus Nilsson, iZettle provides a payment platform for small businesses.
Based in Stockholm, iZettle offers a range of payment and commerce solutions, including payments, point of sales, funding and partners applications.
At close, PayPal will get in-store capabilities in 11 markets, including Brazil, Denmark, Finland, France, Germany, Italy, Mexico, the Netherlands, Norway, Spain and Sweden. IZettle does not now face too much direct competition from its main rival, the NASDAQ-listed Square, as the companies' operations only really overlap in the UK.
Jason Witten Predicts Former Cowboys Teammate Dez Bryant Will Sign with Packers
Bailey missed four games with a groin injury last season and only made 75 percent of his field goal attempts when he was healthy. The 29-year old Bryant was released by the Cowboys in mid-April following a 69-reception, 838-yard season.
The two parties have been negotiating a deal for years, but what may have convinced PayPal to seal the deal was iZettle IPO plans.
The company is still operating at a loss, according to IPO documentation.
The deal should be concluded by the third quarter of the year.
JPMorgan Chase & Co. was sole financial adviser to iZettle, while PayPal worked with Evercore Inc.
We must keep eyes on Iran
Facing that reality, Le Maire said the European Union should strengthen its own legal arsenal against any such future USA threats. Le Maire said Paris would seek to strengthen Europe's ability to block sanctions and provide investment finance to companies.