December 19, 2013 - Assignment

Klarna and SOFORT join forces

Online payment provider Klarna AB has agreed to acquire its German counterpart SOFORT AG from Reimann Investors. Both companies will continue to offer their products side by side and operate on stand-alone basis. The transaction is subject to approval by the Swedish Financial Supervisory Authority.

Klarna is a leading online payment provider in the Nordic countries and SOFORT is a leading provider in Germany and Austria. The combined group will offer payment solutions in 14 European countries, work together with 43,000 online merchants and have 25 million users.

Klarna was advised by Mannheimer Swartling primarily on financing and regulatory issues in the transaction. The firm’s team included Fredrik Andretzky, Mattias Lampe, Johan Frost Bergman and Romina Bolin.