EMV PCI ATM Industry essential guide

The bill-payment company TIO Networks Corp. has inked an agreement to acquire U.S.-based Globex Financial Services and its operating business Global Express Money Orders — a deal that will expand TIO's position in the bill-payment industry as well as its national footprint.

In a joint news release, the companies said they expect that revenue synergies will include the cross-selling of TIO's self-service kiosk, mobile payment and financial wallet technologies to an expanded customer base.

Once regulatory filings are completed later this year, the combined companies will offer bill payment services to millions of consumers across the U.S. and Canada, according to the release.

TIO will be funding the transaction with a combination of cash on hand, debt and $3 million in equity issued to Core Innovation Capital at a price of $0.35/share upon closing of the transaction.

"Underbanked consumers represent the next great market opportunity in the United States, and TIO has provided visionary and meaningful services to this emerging middle class for many years," said Arjan Schutte, founder and managing partner of Core Innovation Capital. "TIO's network of self-service kiosks and powerful web and mobile payment tools are a perfect fit for Globex and their deep penetration in the utility bill payment industry."

TIO CEO Hamed Shahbazi said he was eager to welcome Globex Express and its employees and partners to the TIO family.

"The combination of TIO and Global Express will create a formidable market leader in key segments of the underbanked financial services marketplace," he said.

Read more about bill-payment kiosks.

Related Content

User Comments – Give us your opinion!
Products & Services

Virtual ReceptionKiosk Solution

http://global.networldalliance.com/new/images/products/3786.png

3786/Virtual-ReceptionKiosk-Solution

Presentation: Unleashing the Retail Customer Experience

http://global.networldalliance.com/new/images/products/webcast_small.gif

3099/Presentation-Unleashing-the-Retail-Customer-Experience

KioWare Lite - Kiosk Mode Software

http://global.networldalliance.com/new/images/products/4949.png

4949/KioWare-Lite-Kiosk-Mode-Software

Modular Thermal Printer - TELPAR MTP 600 Series

http://global.networldalliance.com/new/images/products/Telpar_MTP600.jpg

2404/Modular-Thermal-Printer-TELPAR-MTP-600-Series

Education Kiosks

http://global.networldalliance.com/new/images/products/3790.png

3790/Education-Kiosks

PaySite Bill Payment Kiosk

http://global.networldalliance.com/new/images/products/PaysiteRed_100.gif

250/PaySite-Bill-Payment-Kiosk

Kiosk Manufacturer - Flextronics

http://global.networldalliance.com/new/images/products/ReplaceImage.jpg

2467/Kiosk-Manufacturer-Flextronics

Ford Work Solutions Kiosk

http://global.networldalliance.com/new/images/products/Ford_Works_100.gif

152/Ford-Work-Solutions-Kiosk

Olea Chicago Kiosk

http://global.networldalliance.com/new/images/products/6301.png

6301/Olea-Chicago-Kiosk

Marketing Survey Kiosk Solution

http://global.networldalliance.com/new/images/products/3788.png

3788/Marketing-Survey-Kiosk-Solution

PTC Electronics
Telpar
Media Kit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.
Ventus