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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 -0.26% 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
$ 77.57
-0.20 -0.26%
Volume: 7.50M
Nov. 22, 2017 4:00p
P/E Ratio
60.13
Dividend Yield
N/A
Market Cap
$93.47 billion
Rev. per Employee
$674,530
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