By Josh Beckerman
PayPal Inc. has agreed to buy digital money transfer company
Xoom Corp. in deal with an enterprise value of $890 million.
The $25-a-share deal offers a 21% premium to Xoom's Wednesday
closing price of $20.70.
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."
Write to Josh Beckerman at josh.beckerman@wsj.com
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