M&A Deal Summary

TIO Networks Acquires Globex Financial Services

On July 12, 2013, TIO Networks acquired information technology company Globex Financial Services

Acquisition Highlights
  • This is TIO Networks’ 1st transaction in the Information Technology sector.
  • This is TIO Networks’ 1st transaction in the United States.
  • This is TIO Networks’ 1st transaction in Maryland.

M&A Deal Summary
Date 2013-07-12
Target Globex Financial Services
Sector Information Technology
Buyer(s) TIO Networks
Deal Type Add-on Acquisition

Target

Globex Financial Services

Silver Spring, Maryland, United States
Globex Financial Services, Inc. is one of the largest money order, bill payment and prepaid wireless companies operating through thousands of retail locations in the U.S. Globex Financial Services, Inc. has processed millions of “real-time” walk-in bill payments for utility companies, merchants and municipalities.

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Buyer(S) 1

Buyer

TIO Networks

Vancouver, British Columbia, Canada
Category Company
Founded 1997
Sector Internet Software and Services
Employees163
Revenue 83M CAD (2016)
DESCRIPTION

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.

DEAL STATS #
Overall 1 of 3
Sector (Information Technology) 1 of 2
Type (Add-on Acquisition) 1 of 3
State (Maryland) 1 of 1
Country (United States) 1 of 3
Year (2013) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-05 VeriFone Commerce Solutions

San Francisco, California, United States

VeriFone Commerce Solutions, Inc. is a provider of bill payment services for US consumers who wish to pay bills online with a credit or debit card.

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