(Bloomberg) — Adyen NV’s top executives ruled out acquisitions or a merger for the payment-processing company as they vowed to focus on organic growth.
“We have the ambition to build a global company ourselves without acquisitions,” Chief Executive Officer Pieter van der Does said in an interview on Tuesday.
The Amsterdam-based business, which handles transactions for companies such as Uber Technologies Inc. and McDonald’s Corp., has seen its value drop this year amid a tech-stock selloff. The stock is still up about 130% since the start of 2020, helped by growth in online shopping during coronavirus lockdowns.
“We have more than 40% of our business outside of EMEA region, so we not only have that ambition, but we’re delivering on it,” van der Does said. The company isn’t interested in selling a stake to a bigger competitor, he added.
“If you look at the balance sheet, the stability of our company and our size, I don’t think there would be any benefit for us to be part of something bigger,” he said. “We are very much fans of organic growth.”
Chief Financial Officer Ingo Uytdehaage said the company is opening up two new hubs in Madrid and Chicago to help with that growth.
“The pandemic has basically accelerated a few trends that were already there,” he said in the same interview. “These are helping us big time in gaining market share.” he said.
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