Valued at over $53 billion! It is reported that the payment giant Stripe, along with private equity firm Advent, will acquire PayPal (PYPL.US) at a 28% premium.

According to sources, payment processing company Stripe and private equity firm Advent International have proposed to acquire PayPal (PYPL.US) for $60.50 per share, a premium of about 28% over the stock's closing price on Tuesday, valuing the company at over $53 billion. It is reported that the acquisition plan has secured commitments for financing of around $50 billion from banks. The two buyers plan to jointly hold PayPal and will not split the company, with each party holding a 50% stake. Reports in February already suggested that Stripe was considering acquiring all or part of PayPal's business. Sources say that as an unlisted company and one of the most valuable in the industry, Stripe has expressed preliminary interest in acquiring this digital payment pioneer or its assets. Founded in the late 1990s, PayPal was an early player in the field of digital payments. However, with competitors such as Apple Inc. (AAPL.US) and Alphabet Inc. Class C (GOOGL.US) continuously taking market share, PayPal has struggled in recent years to successfully complete the modernization upgrade of its payment technology. Sources said in May that PayPal plans to reduce its workforce by about 20% over the next two to three years. This layoff plan is one of the important measures taken by the new CEO, Enrique Lores, to cut costs and turn around the operating decline of the payment company. Since the beginning of last year, PayPal's stock price has fallen by over 40%. Stripe, founded by brothers Patrick and John Collison, is still an unlisted company and has become one of the most sought-after companies in the payment industry. In February this year, the company achieved a valuation of $159 billion through an employee stock sale transaction, higher than the previous year's $106.7 billion. Stripe stated that while maintaining profitability last year, it continues to increase its investment in product development and mergers and acquisitions. With further expansion into cryptocurrency payment services, the company has recently acquired stablecoin orchestrator Bridge and cryptocurrency wallet service provider Privy.