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PayPal buys TIO Networks

PayPal corporate logo, PayPal buys TIO Networks
PayPal logo
The Vancouver-based bill-pay processor joins PayPal as the result of a $233 million transaction. TIO operates around 900 bill payment kiosks in North America, claiming no less than 14 million consumer bill pay accounts.
Codrut Nistor,
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PayPal has just acquired another small company, namely the Canadian cloud-based multi-channel bill payment processing company known as TIO Networks.

According to the official press release, the transaction has an approximate equity value of $233 million USD. The value of the purchase represents $2.56 USD per share - 25.2 percent more than the 90-trading day volume weighted average price as of February 13.

TIO Networks is a leading payment processor in North America, with over $7 billion USD in consumer bill payments processed in FY 2016. The company provides services to 14 million consumer bill pay accounts, offering support for over 10,000 billers. At last, TIO has around 900 self-service kiosks and approximately 65,000 retail walk-in locations, as well as mobile and web-based solutions.

"By acquiring TIO and integrating bill payment into our global payments platform, PayPal adds another key service in our efforts to become a part of a consumer’s everyday financial life," says PayPal's president and CEO Dan Schulman.

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Codrut Nistor
Codrut Nistor - Senior Tech Writer - 5427 articles published on Notebookcheck since 2013
In my early school days, I hated writing and having to make up stories. A decade later, I started to enjoy it. Since then, I published a few offline articles and then I moved to the online space, where I contributed to major websites that are still present online as of 2021 such as Softpedia, Brothersoft, Download3000, but I also wrote for multiple blogs that have disappeared over the years. I've been riding with the Notebookcheck crew since 2013 and I am not planning to leave it anytime soon. In love with good mechanical keyboards, vinyl and tape sound, but also smartphones, streaming services, and digital art.
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Codrut Nistor, 2017-02-15 (Update: 2017-02-15)