Deals
EBay to Buy Mobile-Pay Service Zong for $240 Million in Cash
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EBay Inc., the world’s largest online marketplace, agreed to buy closely held mobile-payment provider Zong Inc. for $240 million in cash, accelerating its expansion of smartphone services.
The deal is expected to close in the third quarter and won’t have a material effect on earnings, San Jose, California-based EBay said in a statement today.