After Spinoff From Ebay and Acquisition Of Xoom, PayPal Plans More Acquisitions

With $6 billion in cash burning a hole in its wallet, PayPal(PYPL) will not slow its aggressive acquisition program after its purchase of Xoom(XOOM). Dan Schulman, who will be CEO of PayPal following its July 17 spinoff from Ebay(EBAY), told the Financial Times that

acquisitions would be a priority, as PayPal uses the $6bn war chest that is a legacy of the split.

“The balance sheet affords us the opportunity to look opportunistically where it makes sense to acquire,” said Mr Schulman. “I think there is a tremendous opportunity to look across the world.”

As the payment space evolves rapidly over the next few years, the newly independent PayPal and its cash hoard are well-positioned for growth.

Disclosure: The author holds no position in any stock mentioned.