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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 +0.21% plans to buy Canadian cloud-based payment processing firm TIO Networks Corp. /quotes/zigman/414805/delayed TNCGF +0.67% 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.

US : U.S.: Nasdaq
$ 43.24
+0.09 +0.21%
Volume: 3.71M
March 29, 2017 4:00p
P/E Ratio
Dividend Yield
Market Cap
$52.11 billion
Rev. per Employee
US : U.S.: OTC
$ 2.44
+0.02 +0.67%
Volume: 2,000
March 20, 2017 5:20p
P/E Ratio
Dividend Yield
Market Cap
$218.23 million
Rev. per Employee

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