Zip Co (Z1P) buys it’s way into Europe, Middle East
Z1P +0.85%: announced the acquisition of 2 small players for around $180m today. The acquisition of Twisto will only bump up the TTV run rate by around 3%, however it does provide Zip with licences into all EU member states along with a 1m customer foothold. The smaller acquisition of Spotii provides Zip with a base, and relevant licences, to move into the under serviced Middle East. Zip is fast becoming a global play, though their strength remains Quadpay in the US which is reported to be on track for 20% growth in May vs April. The acceleration into the 4th quarter will be key to Zip’s FY21 results in a few months’ time.
MM remains bullish Z1P
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