PayPal acquiring money transfer service Xoom for roughly $890 million - Business Insider

Tangentially, see One Way Google Could Really Take on Amazon: Buy PayPal (Wired) and Google Highlights Low Prices, Mimicking Amazon (WSJ)

"Xoom allows users to send money online or through mobile devices around the world. Last year, it had about $159 million in sales. At today's closing, Xoom had a market cap of around $800 million.

Through this deal, PayPal says it will be able to expand on its 68 million active US customers. Xoom says it had more than 1.3 million active customers making money transactions worth approximately $7 billion last year."

PayPal acquiring money transfer service Xoom for roughly $890 million - Business Insider