Xoom Corporation (NASDAQ: XOOM) said that Xoom stockholders voted to approve the previously announced definitive agreement, dated as of July 1, 2015, pursuant to which PayPal, Inc. will acquire Xoom.
Approximately 95.17 percent of Xoom shares represented at a special meeting were voted in favor of the agreement.
Pursuant to the agreement, PayPal will acquire Xoom for USD25 per share in cash, without interest and less any applicable withholding taxes. The transaction remains subject to the satisfaction or waiver of customary closing conditions and the receipt of certain regulatory consents relating to Xoom´s money transmitter licenses.
Xoom is a leading digital money transfer provider that enables consumers to send money, pay bills and send prepaid mobile phone reloads for 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 June 30, 2015, Xoom´s more than 1.4 million active customers sent approximately USD6.9 billion with Xoom. The company is headquartered in San Francisco.