PayPal completes $302 mln acquisition of TIO Networks
PayPal Holdings Inc (Nasdaq: PYPL) has wrapped up its buy of TIO Networks Corp (TSX-V: TNC), a Vancouver multi-channel bill payment processing company. The deal, announced in February, saw PayPal acquire all of the company's outstanding shares for about $302 million (US$238 million) in cash. TIO will operate as a separate service within PayPal under the leadership of Hamed Shahbazi, TIO's founder and former chairman and CEO. TIO's private equity and hedge fund investors included Core Innovation Capital, Napier Park Financial Partners, Edison Partners, Inter-Atlantic Advisors and Inductive Capital.
18 July 2017•4 mins read
