Deals
Jack Ma's Ant Buys U.K.'s WorldFirst in a Giant Step Abroad
- The deal expands the Chinese giant’s footprint in Europe
- It’s Ant’s biggest deal since a U.S. attempt fell through
People visit a showroom of Ant Financial in Hangzhou.
Photographer: -/AFP via Getty Images
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Ant Financial, the Chinese financial services giant controlled by billionaire Jack Ma, bought London-based payments company WorldFirst in its biggest overseas deal since a U.S. expansion was thwarted.
The acquisition marks the Chinese company’s first big move into the U.K., although its Alipay service is accepted by some merchants there already. That should allow Ant to better serve smaller businesses worldwide, including in the U.S., it said in a statement.