PayPal picks up TIO Networks

///PayPal picks up TIO Networks

PayPal picks up TIO Networks

By | 2018-02-20T16:26:17+00:00 February 27th, 2017|M&A News|

February 14th, 2017. PayPal (Nasdaq: PYPL), famous for revolutionizing the online payment industry, has acquired Vancouver – based TIO Networks (TSX-V: TNC)  for a reported amount of CAD$304M. Founded in 1997, TIO is a leading multi-channel bill payment processor in North America and processed more than $7 billion USD in consumer bill payments in fiscal 2016.  Last year represented the sixth year in a row TIO was listed among Canada’s most successful growth companies on the PROFIT 500 and PROFIT 200, with revenue growth each year exceeding 100 percent year-over-year. The acquisition brings PayPal one step closer to being an integral part of consumer’s day – to – day financial tasks.

Source: TechVibes

Transaction Details:

Date of Announcement2/14/2017
HeadlinePayPal acquires TIO Networks
SectorFinancial Services, Billing, Payments
Company AcquiredTIO Networks
Company LocationVancouver, British Columbia
Private/PublicPublic
Transaction Amount (reported)CAD$304M
Founded1997
Employees51~100
Maket Cap prior to AcquisitionCAD$243.2M
Key InvestorsCore Innovation Capital
AcquirerPayPal
Acquirer LocationSan Jose, California
Private/PublicPublic
Founded2009
Employees10,000+
Market CapUS$52.3B
Number of Acquisitions to date12
CommentPayPal acquires Vancouver-based bill payment processing company TIO Networks
Press ReleaseTech Vibes
Sourcecrunchbase
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