PayPal to buy digital money transfer provider Xoom

July 1, 2015 admin accenture, announcement, are-expected, closing-price, fourth, seen-during, terra-gallery, wednesday

By Mari Saito SAN FRANCISCO (Reuters) – PayPal Inc said it would buy digital money transfer provider Xoom Corp for $890 million as it muscles into a growing international remittance market and expand in countries like Mexico, India and China ahead of a spinoff from eBay Inc . The offer price of $25 per share in cash represents a premium of about 21 percent to Xoom's Wednesday closing price of $20.70. Xoom shares surged on the announcement and were trading around the offer price in extended trading

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PayPal to buy digital money transfer provider Xoom