PayPal Wraps Up Acquisition of TIO Networks in $238 Million Deal

[kreslik.news]

Payment processor PayPal Holdings has acquired Vancouver-based TIO Networks for $238 million in cash. PayPal announced the completion of its previously announced acquisition which saw the internet payments giant paying $3.35 CDN or $2.64 USD per share.

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Founded in 1997, TIO Networks operates a multi-channel network in North America which provides bill payment services and technologies for online and offline customers.

Throughout its 65,000 retail locations, TIO processed $7 billion in consumer bill payments last year and currently serves 16 million consumers with more than 10,000 supported billers.

TIO’s ... (read more)