 "Jack Ma")
China’s biggest online finance app today pushed into the US market with the acquisition of a money transfer service for US$880 million.
The deal sees Ant Financial, a spin-off from online shopping giant Alibaba and the company behind China’s popular Alipay app, snap up Texas-based Moneygram, founded back in 1988, for a premium over its US$633 million valuation on NASDAQ.
Moneygram operates in more than 200 countries with a global network of 347,000 agent offices for its money wire services for individuals and businesses.
Alibaba’s new world order
With this buy-out, Jack Ma – China’s richest tech boss with a
