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Feb. 14, 2017, 4:41 p.m. EST

PayPal to buy Canada-based TIO Networks for $233 mln

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By Sue Chang

PYPL

PayPal Holdings Inc. /quotes/zigman/54335841/composite PYPL -0.71% plans to buy Canadian cloud-based payment processing firm TIO Networks Corp. for $2.56 a share in a deal valued at $233 million, PayPal said late Tuesday. The price represents a premium of 25.2% over TIO's 90-day volume-weighted average price as of Monday. The San Jose, Calif.-based company plans to finance the purchase with cash on its balance sheets and its 2017 outlook won't be impacted by the transaction. PayPal shares were off 0.4% after hours.

/quotes/zigman/54335841/composite
US : U.S.: Nasdaq
$ 58.67
-0.42 -0.71%
Volume: 7.34M
July 21, 2017 4:00p
P/E Ratio
49.72
Dividend Yield
N/A
Market Cap
$70.48 billion
Rev. per Employee
$617,182
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