February 14, 2017 / 9:56 PM / in 7 months

BRIEF-Paypal to acquire TIO networks

Feb 14 (Reuters) - Paypal Holdings Inc:

* Paypal to acquire TIO networks

* Paypal to acquire TIO networks

* Paypal Holdings Inc - deal for approximate $304 million cad ($233 million usd) equity value

* Paypal Holdings Inc - deal for approximate $304 million cad

* Paypal Holdings Inc says intends to fund transaction with cash on its balance sheet

* Paypal Holdings Inc- purchase price represents a premium of 25.2pct to TIO‘S 90-trading day volume-weighted average price as of February 13, 2017

* Paypal Holdings Inc - there will be no change to paypal’s previously communicated fiscal 2017 guidance

* Paypal Holdings Inc - deal for 3.35 cad ($2.56 usd) per share in cash

* Upon closing of acquisition, TIO will operate as a service within Paypal

* Paypal Holdings Inc says transaction has been approved by boards of directors of each of TIO and Paypal

* Paypal Holdings Inc - there will be no change to Paypal’s previously communicated three-year outlook based on acquisition of TIO

* Paypal intends to fund transaction with cash on its balance sheet

* Paypal Holdings Inc- acquisition is expected to close in second half of 2017 Source text for Eikon: Further company coverage:

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