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PayPal buys VeriSign unit for $370 mln

and another takeover : PayPal to buy VeriSign unit for $370 mln

Ebay will buy VeriSign's payment processing business for $370 million and merge it with its PayPal unit as part of a wider e-commerce payment services and security alliance.

The move was seen as letting PayPal, already the largest online payments company, expand faster beyond its core audience of eBay-based transactions and to compete better with credit cards as an online-payment system, analysts said.

PayPal said the payment gateway business would generate an incremental $100 million of revenue for it in 2006.

alright – getting some ebay stocks now :-)

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