PayPal to Acquire Swift Financial
PayPal has agreed to acquire Swift Financial, a leading provider of working capital solutions to small businesses in the U.S. Headquartered in Wilmington, Del., Swift Financial was established in 2006 to provide funding in order to support businesses. Since then, Swift has provided funding to thousands of growing companies in the U.S. through a unique combination of data, technology, and outstanding customer service, which has been recognized for excellence by J.D. Power.
The acquisition is expected to close later in the year, subject to certain closing conditions, including the expiration or early termination of the applicable pre-merger waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.