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Stripe / OpenRouter

Under assessment · Notification · Phase 1 · day 4, due 16 Nov 2026

Technology, Media & TelecomsMN-90037ACCC register

Stripe, LLC proposes a share sale acquisition of OpenRouter Inc. Stripe is a financial technology group providing payment processing and financial infrastructure software, including an AI gateway. OpenRouter is an artificial intelligence technology company offering infrastructure services for Large Language Models and generative AI models via its AI gateway.

Timeline

  1. 2 Oct 2026Filed with the ACCC
  2. 16 Nov 2026Decision due

Acquisition details

Stripe, LLC ( Stripe ) proposes to acquire 100% of the outstanding capital stock of OpenRouter Inc. ( OpenRouter ). Stripe is a financial technology group active in the provision of payment processing and financial infrastructure software for businesses. Stripe’s services grant companies the ability to accept credit card payments, digital wallets, and global currency transactions. Stripe provides an AI gateway feature as part of a token billing service for Stripe customers. OpenRouter is a technology company active within the wider artificial intelligence sector, in the provision of infrastructure services that facilitate access to Large Language Models and other generative AI models. OpenRouter’s business focuses on enabling access, comparison and use AI models from different providers through a single interface. The AI gateway is OpenRouter’s only product.

Parties

Acquirer
Stripe, LLC Delaware File Number - 4675506
Target
OpenRouter, Inc. Delaware File Number - 7412265
ANZSIC
  • 5420 Software Publishing
  • 5910 Internet Service Providers and Web Search Portals
  • 5921 Data Processing and Web Hosting Services
  • 6230 Non-Depository Financing
  • 6240 Financial Asset Investing
  • 6419 Other Auxiliary Finance and Investment Services
  • 7000 Computer System Design and Related Services

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