Westpac confirms it's in discussions to acquire 100% of Tyro

In an announcement to the ASX, Westpac has confirmed that it is in preliminary discussions with Tyro Payments Limited to acquire 100% of the company’s issued share capital.

Westpac have stated that, “There is no certainty that any transaction will result.”

According to Westpac, they see that the acquisition of Tyro would strengthen Westpac’s small business proposition, enabling it to better support customers and grow merchant acquiring, particularly in the hospitality and healthcare sectors.