Talks between Stripe and Advent to acquire PayPal are heating up, with the potential deal valued at up to $53 billion.

Payment giant PayPal’s acquisition talks with Stripe and private equity firm Advent Global Opportunities are heating up, with a potential deal to be finalized in the coming weeks. Back in July, Stripe and Advent proposed acquiring PayPal at $60.50 per share, valuing the deal at roughly $53 billion, but PayPal rejected the offer at the time. However, sources familiar with the matter revealed that negotiations have not broken off and are still ongoing. Neither PayPal nor Stripe has confirmed the reports. PayPal declined to comment, while Stripe said it does not respond to market rumors or speculation. The potential sale comes as PayPal seeks to reverse its growth struggles. Since PayPal CEO Enrique Lores took office in March this year, he has rolled out a restructuring plan splitting the business into three segments: checkout and PayPal core services, consumer financial services (including Venmo), and payment services and crypto operations. Lores has stated that PayPal will return to its identity as a technology company and strengthen its core payment capabilities. Meanwhile, the company plans to boost efficiency through cost cuts, with an estimated 20% workforce reduction over the next two to three years. Founded in 1998, PayPal’s founding team includes Silicon Valley figures such as Peter Thiel, Elon Musk, and Max Levchin. The company grew rapidly during the pandemic due to the e-commerce boom, but has faced challenges including slowing growth and downward pressure on its stock price in recent years. If the deal is completed, it will be one of the largest acquisitions in the fintech industry in recent years.