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PayPal to buy digital money transfer provider Xoom

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% to Xoom's closing price of $20.70.