Visa buys CyberSource for $2B in move aimed at expanding use of online, mobile payments
By APWednesday, April 21, 2010
Visa pays $2 billion to buy out CyberSource
SAN FRANCISCO — 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.
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