Klarna acquired Search Engine Marketing Sweden

Klarna, a Stockholm, Sweden-based financial service company, announced that it acquired the local company from Sweden called Search Engine Marketing.

The financial details of the deal were not disclosed. The company will further be closed down and its founders will join and work for Klarna.

Search Engine Marketing Sweden, founded in 2011 by Martin Lillienstierna and Mahir Misto, provides two services Semtail and Shoptail that aim to help e-merchants to advertise more effectively on Google Shopping. The company produced sales of SEK 42 million ($5M) in 2019 and was profitable.

Later edit: the deal was made for SEK 136 million. ($16M)