Square's Latest Acquisition Positions It Squarely In Europe
Square (NYSE: SQ) recently acquired Verse, a Spanish peer-to-peer payments start-up. Verse represents Square's first foray into mainland Europe.
The payments market is highly fragmented in Europe, so there's still an opportunity to build the critical mass necessary to let the network effect take over and grow organically. Square's Verse acquisition gives it a solid footing in Spain as well as several other markets, including Italy, Portugal, France, and the U.K.
In its acquisition announcement, Square said, "At this point, our main priority is enabling Verse to continue [its] successful growth in Europe." Square may be able to do so by copying the playbook that allowed it to become a powerhouse in the U.S.
Source Fool.com
