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PayPal acquisition

PayPal Acquires Xoom and its 1.5 Million Active Customers

PayPal has officially acquired the digital payment service Xoom for $890 million. The company first announced the acquisition in July, but the process was just completed. Xoom deals primarily with international money transfers, focusing in markets like Mexico, India, China, Brazil and the Philippines. PayPal plans to utilize Xoom’s platform to expand its global marketplace