Thursday, July 2, 2015

PayPal Picks Up Xoom For $890M

San Jose-based PayPal and San Francisco-based Xoom said late Wednesday that PayPal will pay $25 per share in cash, or approximately $890M, to acquired Xoom. Xoom is a provider of international money transfer services. PayPal said the move will help it accelerate its time to market in key international markets, particularly in Mexico, India, the Phillipines, China, and Brazil. Xoom offers up international remittance services, which helps users send money to family and friends internationally.