PayPal’s $120 Million Acquisition of Simility

Goodwin, Mattos Filho, Veiga Filho, Marrey Jr e Quiroga and Orrick, Herrington & Sutcliffe advised on the deal

PayPal Holdings, Inc. (NASDAQ: PYPL) has agreed to acquire Simility, a leading fraud prevention and risk management platform, for a purchase price of $120 million in cash, subject to certain adjustments. The acquisition of Simility will enhance PayPal’s ability to deliver fraud prevention and risk management solutions to merchants globally.

Following the close of the transaction, merchants on the PayPal platform will gain access to best-in-class fraud tools that can be customized to reflect the nuances of their businesses through their existing account management dashboard. These machine learning-powered tools, which dynamically adapt and evolve with each transaction, will enhance payment experiences for merchants and their customers by helping to reduce fraudulent payment activity and, in some cases, verifying transactions that may have otherwise failed.

Goodwin advised PayPal with Lawrence Chu (Picture), Daniel Espinoza, Paula Nagarajan, Benjamin Horwitz, and Ajay Sharma.

Mattos Filho, Veiga Filho, Marrey Jr e Quiroga advised PayPal with Stephen Charles O’Sullivan, Dario Abrahão Rabay, José Daniel Gatti Vergna and Thomaz Miguel Costa Carpes Borges.

Orrick, Herrington & Sutcliffe advised Simility with Mark W. Seneca and Chris Trester.

 

 

Involved fees earner: Stephen Charles O’Sullivan – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Dario Abrahão Rabay – Mattos Filho Veiga Filho Marrey Jr & Quiroga; José Daniel Gatti Vergna – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Thomaz Miguel Costa Carpes Borges – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Lawrence Chu – Goodwin Procter; Daniel Espinoza – Goodwin Procter; Paula Nagarajan – Goodwin Procter; Benjamin Horwitz – Goodwin Procter; Chris Trester – Orrick; Mark Seneca – Orrick;

Law Firms: Mattos Filho Veiga Filho Marrey Jr & Quiroga; Goodwin Procter; Orrick;

Clients: PayPal; Simility Inc.;