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PayPal Buying International Money Transfer Player Xoom

PayPal is buying Xoom for $25 a share, in an all-cash deal, the companies said Wednesday. Xoom operates as an international money-transfer player.

Following a trading halt, Xoom shares resumed extended hours trading around 3 pm PT and spiked as much as 25 percent.

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This article originally appeared on Recode.net.

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