PayPal to buy VC-backed Paydiant

PayPal has agreed to acquire Massachusetts-based mobile wallet platform provider Paydiant, the latter announced in a post on its site.

No financial terms were disclosed but according to Re/Code, the price of the acquisition is about $280 million.

The deal is expected to close in late March or April.

In September 2013, Paydiant raised $15 million in funding. The investors in that round included North Bridge Venture Partners, General Catalyst Partners and Stage 1 Ventures.

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