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eBay has acquired mobile payments company Zong for $240 million in cash. The transaction is expected to close in the third quarter of 2011. Zong has been one of the pioneers in the mobile payments space, adding a compelling new way for consumers to pay for items online.
Josh Hannah Twitter

Congrats @davidmarcus @dcstalder on PayPal acquiring Zong -- should be a powerful combination! http://t.co/97Biqiy

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