BlockBeats News, August 15th. Acquisition talks between the payment giant PayPal and the private equity firm Advent Global Opportunities, as well as with Stripe, are heating up, with a potential deal expected to be reached in the coming weeks.

Earlier in July, Stripe and Advent had proposed to acquire PayPal for $60.50 per share, with a total transaction value of approximately $53 billion. However, PayPal did not accept the offer at that time. Nevertheless, sources familiar with the matter revealed that the negotiations have not been suspended and are still ongoing.

PayPal and Stripe have not confirmed the news. PayPal declined to comment, while Stripe stated that it would not respond to market rumors or speculation.

This potential sale comes as PayPal seeks to reverse its growth challenges. Following the assumption of office by CEO Enrique Lores in March this year, PayPal introduced a restructuring plan to split the business into three main directions: payment checkout and PayPal business, consumer financial services (including Venmo), and payment services and crypto business.

Lores previously stated that PayPal would return to its roots as a technology company and strengthen its core payment capabilities. At the same time, the company plans to improve efficiency by cutting costs, with an expected workforce reduction of up to 20% over the next two to three years.

Founded in 1998, PayPal's founding team included prominent Silicon Valley figures such as Peter Thiel, Elon Musk, and Max Levchin. The company experienced rapid growth during the e-commerce boom amidst the pandemic but has faced challenges such as slowing growth and a declining stock price in recent years. If the deal goes through, it will be one of the largest acquisitions in the fintech industry in recent years.