PayPal Shareholder Suit Dismissed and other Digital Transactions News briefs from 12/24/18

Mindbody Inc., the health and wellness software-application provider, said Vista Equity Partners will buy the company for $1.9 billion. Shareholders will receive $36.50 per share, a 68% premium over Mindbody’s Dec. 21 closing price of $21.72. Mindbody became an independent sales organization in 2010 to be able to sell its clients payment-processing services along with its software. The transaction is expected to close in the first quarter and has no financing conditions.
A federal judge in San Francisco granted a motion by PayPal Holdings Inc. to dismiss a shareholder lawsuit alleging PayPal made false and misleading statements regarding a data breach at TIO Networks, a bill-pay firm PayPal acquired in July 2017 for $238 million, The National Law Review reported. The breach may have affected 1.6 million customers. Citing security concerns, PayPal suspended TIO’s operations that November.
Institutional investor Paloma Partners Management Co. sold three-quarters of its stake in Global Payments Inc. during the third quarter, reducing its holding to 4,195 shares, according to a filing with the Securities and Exchange Commission. The stock currently has an average analyst rating of “buy.”
Ant Financial Services Group, parent of China’s Alipay mobile-payments service, is in talks to buy WorldFirst, a United Kingdom-based currency-exchange startup, according to a report by Reuters.

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