Sidley advised PayPal, Inc. (NASDAQ: PYPL) in its acquisition of Xoom Corporation (NASDAQ: XOOM) for an enterprise value of approximately $890 million. In strategically guiding PayPal with the expansion of its international money transfer business, Sidley brought to bear its deep understanding of FinTech transactions and the payments industry.
The Sidley team was led by M&A partner Gary Gerstman (Chicago), and included M&A partners Sharon Flanagan (San Francisco), Jennifer Fitchen (Palo Alto) and Michael Heinz (Chicago). In addition, intellectual property partner Glenn Nash (Palo Alto); online payments and banking partner Dave Teitelbaum (Washington, D.C.); employee benefits partner Matt Johnson (Chicago); tax partner Sharp Sorensen (Chicago) and privacy and data security partner Ed McNicholas (Washington, D.C.) served on the team. Associates in several practices also supported the team, including M&A associates Katie Pulaski (San Francisco), Sally Wagner Partin (San Francisco) and Alyse Andalman (Chicago). Also, banking and financial services associate Stephen Wallant (Washington, D.C.); technology & IP transactions associates Miles Palley (Palo Alto) and Anna Remis (Chicago); privacy data security associate Colleen Theresa Brown (Washington, D.C.) and tax associate Hassen T. Al-Shawaf (Chicago) were additional members of the deal team.
Throughout Sidley’s long-term relationship with PayPal, the firm has represented the company in many of its transactions including its acquisitions of Braintree, which processes transactions for mobile apps, Paydiant, which helps retailers operate mobile wallets, and Zong SA, which processes mobile payments.
Source: www.sidley.com
