Thursday, November 12, 2015

PayPal Completes Xoom Acquisition

San Jose-based PayPal said Thursday morning that it has completed its acquisition of San Francisco-based Xoom Corporation, which was worth $890M. PayPal agreed in July to pay $25.00 per share in cash for Xoom, which develops a service which lets users send money to others, pay bills, and more using a mobile phone, tablet, or computer. The company, in particular, has a big remittance business in Mexico, India, the Philippines, China and Brazil.