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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

PayPal Holdings Inc. /quotes/zigman/54335841/composite PYPL +1.25% plans to buy Canadian cloud-based payment processing firm TIO Networks Corp. /quotes/zigman/414805/delayed TNCGF -1.73% 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
$ 42.49
+0.53 +1.25%
Volume: 3.48M
Feb. 21, 2017 2:18p
P/E Ratio
36.57
Dividend Yield
N/A
Market Cap
$50.67 billion
Rev. per Employee
$592,431
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/quotes/zigman/414805/delayed
US : U.S.: OTC
$ 2.49
-0.04 -1.73%
Volume: 73,200
Feb. 21, 2017 1:24p
P/E Ratio
49.36
Dividend Yield
N/A
Market Cap
$218.78 million
Rev. per Employee
$388,013
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