Visa (NYSE:V) has announce that it will acquire online electronic payment and risk management provider, CyberSource Corporation, (NASDAQ:CYBS) in an approximately $2.0 billion cash transaction valuing CyberSource shares at $26.00 per share.
CyberSource is a leading online payment processor, handling approximately 25 percent of all eCommerce dollars transacted in the United States. The company serves more than 295,000 merchants through its CyberSource and Authorize.Net branded solutions. CyberSource also offers industry-leading risk management and payment security solutions for merchants accepting card-not-present transactions.
“Online commerce continues to grow rapidly, and this acquisition will enable Visa to offer new and enhanced services that will better meet the growing demand among merchants globally for robust, secure online payment processing capabilities which in turn will grow the entire eCommerce category,” said Joseph W. Saunders, Chairman and CEO of Visa Inc.
CyberSource’s President and CEO, Michael Walsh, will continue to oversee CyberSource’s operations. CyberSource’s Executive Chairman and Founder, William S. McKiernan, will join Visa as an Executive Advisor to assist in the integration of the two businesses.
Visa and CyberSource will host a conference call today at 5:30 a.m. Pacific time (8:30 a.m. Eastern time) to discuss the transaction. The dial-in information for the call is 888-790-4410 (within the United States) or 773-756-0127 (international). The conference passcode is GATEWAY.
