PayPal picks up TIO Networks

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 per cent 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

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