Internet, Digital Media & Consumer
Xoom Corporation, a digital money transfer provider, completed its previously announced sale to PayPal, Inc. (NASDAQ: PYPL), a provider of a worldwide online payments system. In accordance with the terms of the acquisition agreement announced on July 1, 2015, PayPal acquired all of the outstanding shares of Xoom for $25 per share in cash. Xoom will operate as a separate service within PayPal. Needham & Company acted as a financial advisor and provided a fairness opinion to the Board of Directors of Xoom Corporation as part of its services.
Xoom Corporation (NASDAQ: XOOM) is a leading digital money transfer provider that enables consumers to send money, pay bills and send mobile reloads to family and friends around the world in a secure, fast and cost-effective way, using their mobile phone, tablet or computer. During the 12 months ended March 31, 2015, Xoom’s more than 1.3 million active customers sent approximately $7.0 billion with Xoom.