CyberSource to acquire Authorize.net
CyberSource Corporation, provider of electronic payment and risk management solutions, and Authorize.Net Holdings, Inc., provider of IP based payment solutions, announced the signing of a definitive agreement whereby CyberSource will acquire Authorize.Net in a stock and cash transaction valued at approximately $565 million.
The acquisition joins two highly complementary businesses, positioning CyberSource to further capitalize on the growing web-based payment opportunity. Both companies are leaders in enabling e-commerce businesses to accept online payments for goods and services. CyberSource, with approximately 20,000 customers, has traditionally focused on managing payments for mid-sized and enterprise customers. Authorize.Net, with over 175,000 customers, has specialized in small businesses. Collectively, the companies processed approximately 1.1 billion transactions in 2006, representing $65 billion of e-commerce. The acquisition will enable CyberSource to provide leading payment solutions to all segments of the e-commerce industry.
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[...] Source:901am CyberSource Corporation, provider of electronic payment and risk management solutions, and Authorize.Net Holdings, Inc., provider of IP based payment solutions, announced the signing of a definitive agreement whereby CyberSource will acquire Authorize.Net in a stock and cash transaction valued at approximately $565 million. The acquisition joins two highly complementary businesses, positioning CyberSource to further capitalize on […] Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages. [...]
By CyberSource to acquire Authorize.net »Technology News | Venture Capital, Startups, Silicon Valley, Web 2.0 Tech on June 18, 2007 1:04 pm