Payoneer's (PAYO) Purchase of Ireland-Based Boundless to Help Grow Europe Reach

Payoneer Global Inc. (NASDAQ:PAYO), one of the 14 Best Tech Stocks Under $10 to Buy, announced on January 20 its acquisition of Ireland-based employer of record (EOR) platform Boundless. While the financial terms of the transaction were not disclosed, Payoneer’s purchase of Boundless, a company that provides business services covering cross-border payroll, taxes, benefits, and compliance, is expected to grow the company’s footprint in Europe, while also adding to its lineup of services for international small- and medium-sized businesses. In 2024, Payoneer bought EOR platform Skuad for at least $61 million; the platform has since been renamed Payoneer Workforce Management (WFM).

Meanwhile, on January 22, Payoneer Global Inc. (NASDAQ:PAYO) received an in-principle approval from the Reserve Bank of India to act as a cross-border payment aggregator in the country, giving them access to small- and medium-sized businesses in the world’s most populous country. Earlier this month, on January 2, KBW analyst Sanjay Sakhani reaffirmed his Buy rating and $7.50 price target on Payoneer’s stock.

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Disclosure: None. This article is originally published at Insider Monkey.