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Square to expand merchant business into Ireland

Square Inc. SQ, +5.24% announced Thursday that it plans to bring its seller business to Ireland. The company has opened a limited “early access” program and then intends to make its seller services more generally available in the country later this year. “We see today’s launch as additive to the already-material International opportunity,” wrote Barclays analyst Ramsey El-Assal in a note to clients after the announcement. He wrote earlier this year that while Square’s international opportunities haven’t been top of mind for investors in recent years, he expects that the company is “finally positioned correctly to more fully realize its potential in global markets, largely due to a significant acceleration in business investment outside the US.” Square currently offers seller services in Japan, Canada, Australia, and the U.K., in addition to the U.S. Square shares are up 4.7% in Thursday afternoon trading. They’ve gained about 350% over the past 12 months as the S&P 500 SPX, +0.39% has added 54%.

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