M&A Deal Summary

PayPal Acquires TIO Networks

On February 14, 2017, PayPal acquired internet software and services company TIO Networks for 304M CAD

Acquisition Highlights
  • This is PayPal’s 7th transaction in the Internet Software and Services sector.
  • This is PayPal’s 8th largest (disclosed) transaction.
  • This is PayPal’s 1st transaction in Canada.
  • This is PayPal’s 1st transaction in British Columbia.

M&A Deal Summary
Date 2017-02-14
Target TIO Networks
Sector Internet Software and Services
Buyer(s) PayPal
Deal Type Add-on Acquisition
Deal Value 304M CAD
Advisor(s) Raymond James - Investment Banking (Financial)
Davies Ward Phillips & Vineberg LLP
Fasken Martineau DuMoulin LLP
Morrison & Foerster LLP (Legal)

Target

TIO Networks

Vancouver, British Columbia, Canada
website
TIO Networks Corp. is a cloud-based multi-channel bill payment processing and receivables management provider, serving the largest telecom, wireless, cable, and utility bill issuers in North America. TIO integrates with the back office of billing systems to accept, validate, and collect payments via self-service kiosk, retail walk-in, mobile, and web solutions.

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Buyer(S) 1

Buyer

PayPal

San Jose, California, United States

website

Category Company
Founded 1998
Sector Financial Services
Employees26,500
Revenue 21.5B USD (2020)
DESCRIPTION
Entrance to PayPal's corporate headquarters in San Jose, California.
Entrance to PayPal's corporate headquarters in San Jose, California.

PayPal enables any business or consumer with email to send and receive online payments securely, conveniently and cost-effectively. The Company's network builds on the existing financial infrastructure of bank accounts and credit cards to create a global payment system and delivers a product well suited for small businesses, online merchants, individuals and others underserved by traditional payment mechanisms. PayPal was founded in 1998 and is based in San Jose, California.

DEAL STATS #
Overall 12 of 21
Sector (Internet Software and Services) 7 of 10
Type (Add-on Acquisition) 12 of 20
State (British Columbia) 1 of 1
Country (Canada) 1 of 1
Year (2017) 1 of 2
Size (of disclosed) 8 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-19 Modest

Chicago, Illinois, United States

Modest is a mobile commerce platform that gives customers the ability to buy from anywhere in just a few taps.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-10 Swift Financial

Wilmington, Delaware, United States

Swift Financial Corp. (Swift Capital) is a provider of working capital solutions to small businesses. Swift Financial Corp. was established in 2006 and is based in Wilmington, Delaware.

Buy -
Mergr

Product

Company

Legal