SAN FRANCISCO – Visa Inc. announced an agreement yesterday to acquire CyberSource, a provider of electronic payment, risk management and payment security solutions to online merchants, at a price of $26 a share, or about $2 billion in cash.
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CyberSource's fraud prevention technology is expected to help Visa increase online use of the credit, debit and prepaid cards that bear its name. Visa is also aiming at the growing mobile payments market worldwide.
CyberSource reaches more than 295,000 merchants through its CyberSource and Authorize.Net-branded solutions. CyberSource clients include British Airways, Home Depot, Facebook, Google and many small businesses.
