Speaking on Bloomberg TV’s show “The Pulse” about mobile payment security PayPal CEO David Marcus admitted his company has given Bitcoin a lot of thought lately.
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They've partnered with Braintree and Coinbase for Bitcoin payment processing, but they don't do Bitcoin first party yet.
I could of sworn that they owned BrainTree.
You're right, they acquired Braintree, they partnered with Coinbase and GoCoin for Bitcoin processing:
http://www.forbes.com/sites/ryanmac/2014/09/23/paypal-takes-small-step-toward-bitcoin-partners-with-cryptocurrency-processors/