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PayPal Holdings Inc. has said it will acquire the Japanese upstart Paidy Inc. for ¥300 billion ($2.7 billion) as it seeks to deepen a push into buy-now-pay-later products.

The acquisition will be “minimally dilutive” to adjusted earnings per share in 2022, PayPal said Tuesday in a statement. The deal, which is expected to close in the fourth quarter, will be paid for principally with cash, PayPal said.

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