Weeks Before the eBay Split, PayPal Acquires Digital Payment Provider Xoom

By July 2, 2015Bitcoin Business

Paypal announced on Wednesday that it was acquiring San Francisco-based Xoom, a company that facilitates the digital transfer of money internationally, Forbes reports . The all-cash deal values Xoom at $890 million, or $25 a share.

“Expanding into international money transfer and remittances aligns with our strategic vision to democratize the movement and management of money,” said PayPal President Dan Schulman.

“Acquiring Xoom allows PayPal to offer a broader range of services to our global customer […]

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