Swedish payments firm Klarna buys price comparison service Pricerunner

FILE PHOTO: A smartphone displays a Klarna logo in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration

STOCKHOLM (Reuters) -Swedish investment firm Creades said on Tuesday it had agreed to sell price comparisons company Pricerunner to Swedish payments firm Klarna for 1.06 billion Swedish crowns ($124.36 million).

Klarna will pay 40% of the price in cash and the rest with Klarna shares, Creades said in a statement.

Klarna, a “buy now, pay later” company expected to make its stock market debut in the coming months, said separately that Pricerunner would bring product reviews, rich product discovery and price comparisons to the Klarna app.

“The acquisition will serve to strengthen our bank, card and payment services and support a competitive global landscape,” it said in a statement.

Creades said it expected to finalise the deal in the first quarter of 2022 and that it would own around 43,000 shares in Klarna following the transaction.

Pricerunner has operations in Sweden, Denmark, Norway and Britain.

($1 = 8.5233 Swedish crowns)

Reporting by Anna Ringstrom; editing by Niklas Pollard