Silver Lake-backed Global Blue completed the acquisition of ZigZag for £50m.

Silver Lake-backed Global Blue, a tourism shopping tax refund company, completed its acquisition of ZigZag, an e-commerce returns specialist, for £50m ($69m). "With this first acquisition since our listing on the New York Stock Exchange in August 2020, Global Blue has the ambition to become a strategic omni-channel technology and payments partner empowering merchants to capture growth opportunities. ZigZag is an exciting, fast-growing, emerging leader in e-commerce, specialised in the management of e-commerce returns. The synergies between the two companies are strong and will help both of us to grow faster," Jacques Stern, Global Blue CEO and President.