(Reuters) - PayPal Inc, the electronic payments division of eBay Inc , said it would buy digital money transfer provider Xoom Corp for about $890 million in enterprise value.
The offer price of $25 per share represents a premium of 21 percent to Xoom's Wednesday closing price of $20.70.
Paypal said the deal, expected to close in the fourth quarter of 2015, will slightly hurt PayPal's adjusted earnings per share for 2016.
PayPal intends to fund the transaction with cash on its balance sheet, it said in a statement on Wednesday.
(Reporting By Lehar Maan in Bengaluru; Editing by Don Sebastian)
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