Visa Pays $2 Billion to Buy out Cybersource

Wednesday, 21 Apr 2010 08:12 AM

 

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Visa Inc. is buying e-commerce payment processor CyberSource Corp. for about $2 billion.

CyberSource's fraud prevention technology is expected to help Visa to 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.

The purchase price of $26 per share represents a 34 percent premium over Mountain View, Calif.-based CyberSource's Tuesday closing price.

© Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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