Court approves sale of TIO Networks to PayPal for $304 mln
The proposed acquisition of TIO Networks Corp (TSX-V: TNC), a Vancouver multi-channel bill payment processing company, by PayPal Holdings Inc (Nasdaq: PYPL) has received final court approval. The transaction, announced in February, has an equity value of about $304 million. It is expected to be completed in the second half of 2017. TIO is backed by U.S. private equity firms and hedge fund investors. They include Core Innovation Capital, Napier Park Financial Partners, Edison Partners, Inter-Atlantic Advisors and Inductive Capital.
17 April 2017•3 mins read
