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EBAY eBay Inc

49.50
0.11 (0.22%)
04 May 2024 - Closed
Delayed by 15 minutes
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

PayPal to Buy Money Transfer Company Xoom -- Update

01/07/2015 11:26pm

Dow Jones News


eBay (NASDAQ:EBAY)
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From May 2019 to May 2024

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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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