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Share Name | Share Symbol | Market | Type |
---|---|---|---|
eBay Inc | NASDAQ:EBAY | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.11 | 0.22% | 49.50 | 27.84 | 70.20 | 50.26 | 49.37 | 49.60 | 6,896,725 | 05:00:08 |
By Josh Beckerman
PayPal Inc. has agreed to buy digital money transfer company Xoom Corp. in deal with an enterprise value of $890 million, a move that the company said will enhance PayPal's international presence.
The $25-a-share deal offers a 21% premium to Xoom's Wednesday closing price of $20.70. In after-hours trading, Xoom shares recently changed hands at $22.21.
PayPal, which is in the process of being separated from eBay Inc., said "Xoom's presence in 37 countries--in particular, Mexico, India, the Philippines, China and Brazil--will help us accelerate our expansion in these important markets."
For the 12 months ended March 31, San Francisco-based Xoom had more than 1.3 million active customers who sent about $7 billion via Xoom. In the quarter ended March 31, revenue rose 24% to $44.4 million, and the company projected revenue of $191 million to $196 million for 2015.
Xoom was founded in 2001 and went public in 2013.
Write to Josh Beckerman at josh.beckerman@wsj.com
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