Monday, March 2, 2015

PayPal Buys Paydiant

PayPal, the online payments unit of eBay, has acquired mobile wallet software developer Paydiant, the two announced this morning. Financial terms of the acquisition were not disclosed. Paydiant said, in an announcement, that the deal will help it scale out its white label platform and offer value-added benefits to its customers. The deal is expected to close in March or April. Paydiant was venture backed by General Catalyst Partners, North Bridge Venture Partners, and others. Paydiant was based in Boston.