Tyro Payments Limited (Tyro or the Company) is a technology-focused and values-driven Group providing Australian businesses with payment solutions and value-adding business banking products.
Tyro has received two non-binding indicative offers from Potentia, one at $1.27 per share and the most recent offer of $1.60 per share, both of which were unanimously rejected by the Tyro Board.
Tyro has offered Potentia a 4 week period of due diligence to develop a significantly improved proposal.
There is no guarantee that a further non-binding indicative offer, a binding offer, or a transaction of any kind will eventuate.
Tyro's team consists of 600 people, with half in technology roles.
They provide in-store payments, eCommerce, merchant cash advances, and interest-bearing merchant transaction accounts.