Just weeks before the previously agreed upon split from eBay, PayPal has officially announced that the company agreed to acquire a San Francisco-based online money transfer technology and services company Xoom to the tune of US$890 million.
The deal is set to be closed during the fourth quarter of 2015, months after the planned split with Ebay on July 17.
“Today, this primarily cash-based system of sending money abroad can be time-consuming, insecure and expensive,” wrote […]