cybersource visa acquisition
Founded in 1994, Cybersource provides online payment and fraud management services for medium and large-sized merchants. Our story Discover how we became a leader in payments and fraud management—and how we can help businesses like yours scale globally. Save Search . So, we’ll see how all of it plays out.”. registered trademark of “For the past two years, we have partnered closely with Payworks to deliver cutting-edge integrated commerce solutions for CyberSource’s clients worldwide,” said Carleigh Jaques, SVP, global head of digital merchant products, Visa. As a part of its strategic partnership, Visa has been enhancing its CyberSource platform with Payworks since 2018 before acquiring the latter in July 2019. “Visa is modernizing the way we move money by making it quicker, safer and easier to pay and be paid than ever before,” said Bill Sheley, head of global push payments, Visa. Contacts: It is expected to close by September 30, and would reduce Visa’s earnings for that quarter by about 4 … The deal is expected to close later this year. Media Relations: Will Valentine, 415-932-2564, globalmedia@visa.com, Visa Inc. Completes Acquisition of CyberSource. In announcing the acquisition by Visa, CyberSource’s president and CEO, Mike Walsh, posted a letter at Authorize.Net for its customers. --------- Cybersource offers a complete portfolio of online and in-person services that simplify and automate payments. Screen shot of Authorize.Net’s home page. Visa is set to purchase CyberSource electronic payment, risk management and payment security solutions to online merchants at a price of $26.00 per share, or total consideration of approximately $2.0 billion to be paid with cash on hand. Visa’s financial strength will presumably allow it to invest in infrastructure and marketing activities of Authorize.Net and CyberSource, accelerating the growth of those companies. For more information, visit http://www.corporate.visa.com/. SAN FRANCISCO and MOUNTAIN VIEW, Calif., April 21, 2010 /PRNewswire via COMTEX/ --Visa Inc. (NYSE: V) ("Visa") and CyberSource Corporation (Nasdaq: CYBS) ("CyberSource") today announced that they have entered into a definitive agreement for Visa to purchase CyberSource, a leading provider of electronic payment, risk management and … I am very pleased to announce Visa's intention to acquire all of CyberSource's outstanding equity for $26 a share. Examples of such forward-looking statements include, but are not limited to, statements we make about the growth of the eCommerce category and the value of Visa's network, product and service offerings. But the deal marks Visa’s entry into the gateway business, and, perhaps, recognizes the growing role that ecommerce transactions play in the global economy. John Waldron is CEO of Merchant Focus, a merchant account provider, and he’s a longtime observer and expert of the credit-card business. Visa has shown no desire to enter our merchant account business, so I feel they are a good neutral party. Approximately 71.76% percent of the outstanding shares were voted, of which … List of Visa 's 13 Acquisitions, including YellowPepper and Payworks. The acquisition builds on a strategic partnership and investment Visa made in Payworks in February 2018. And we already have a working relationship with Visa, via the interchange fees that we pay to them and general processing compliance, as well as PCI compliance matters. Underpinning digital currency is one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 10,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. With the acquisition of CyberSource, Visa will now collect payment gateway and other ancillary fees, as well. Looking ahead, we anticipate being able to provide you even more innovation and greater global reach. ir@visa.com Confluence Distribution, Inc. Practical Ecommerce® is a CyberSource is an established industry leader in eCommerce payments and plays a role in processing The pending sale gets Visa out of the somewhat uncomfortable position it found itself in after its $2 billion acquisition of Mountain View, Calif.-based CyberSource Corp. in 2010. The proposed acquisition by Visa of Authorize.Net’s parent company is the latest evolution for the storied payment gateway. This is an all-cash transaction to be paid from cash on hand. Authorize.Net’s launch proceeded Google’s by three years. “For resellers like us,” says Waldron, “I think the acquisition by Visa is a good thing. Visa has upped its assault on the e-commerce market, agreeing a $2 billion deal to buy online payment and security outfit CyberSource. According to the takeover a greement CyberSource, a provider of electronic payment and security services for online merchants, agreed to be acquired for USD 26 a share, or USD 2 billion in total. These statements can be identified by the term "expected to" and similar references to the future. The acquisition of CyberSource expands Visa's online payment, fraud, and security management capabilities. Visa . As examples of this: Copyright © 2005 - 2021. On July 21, 2010, Visa Inc. (NYSE: V) completed the acquisition of CyberSource Corporation at a price of $26.00 per share, or a total of approximately $2.0 billion, to be paid with cash on hand. Bell ID acquired by Visa . Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Private Securities Litigation Reform Act of 1995. The acquisition of CyberSource expands Visa's online payment, fraud, and security management … Visa to Acquire CyberSource, Authorize.Net. Our mission is to publish authoritative articles, commentary, webinars, and podcasts to help online merchants. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. CyberSource Corporation (Nasdaq: CYBS) announced that, at its special stockholders meeting held earlier today, its stockholders approved the acquisition of CyberSource by Visa Inc. (NYSE: V) ("Visa"). Lightbridge owned Authorize.Net until Nov. 2007, when it sold the company to CyberSource, who has now agreed to sell itself and its Authorize.Net division to Visa, the dominant credit card issuer in the world. CyberSource’s main businesses were the Authorize.Net gateway for online merchants, various fraud-control and management services for them, and merchant-acquiring portfolios in the U.S. … Visa Inc. (NYSE: V) ("Visa") announced today that it has completed its acquisition of CyberSource Corporation (Nasdaq: CYBS), at a price of $26.00 per share of CyberSource common stock, or total consideration of approximately $2.0 billion, to be paid with cash on hand. Visa’s acquisition of CyberSource, Authorize.Net’s parent, marks the sixth owner for Authorize.Net. Practical Ecommerce is an independent, family-owned, online magazine in Traverse City, Michigan, U.S. We are not affiliated with any e-commerce service, platform, or provider. Visa's decision to acquire CyberSource met these criteria. CyberSource The acquisition (which included CyberSource’s wholly-owned subsidiary Authorize.Net—a leader in small business eCommerce) accelerated Visa’s growth in the eCommerce category and enhanced the value of Visa’s network, product and service offerings to financial institutions, merchants, partners and consumers. Apr 21, 2010 . Therefore, actual results could differ materially and adversely from those forward-looking statements as a result of a variety of factors, including the risk that CyberSource's business will not be successfully integrated with Visa's business, costs associated with the merger, and the other factors that are discussed under the heading "Risk Factors" in Visa's most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q for its most recent fiscal year. The way you work with our company and partners will remain the same, as will our commitment to deliver the highest quality service and support. Thanks, Jack; and thank you all Visa and CyberSource employees, clients, and shareholders for joining us. Cybersource . SAN FRANCISCO and MOUNTAIN VIEW, Calif., April 21, 2010 /PRNewswire via COMTEX/ --Visa Inc. (NYSE: V) ("Visa") and CyberSource Corporation (Nasdaq: CYBS) ("CyberSource") today announced that they have entered into a definitive agreement for Visa to purchase CyberSource, a leading provider of electronic payment, risk management and … You are cautioned not to place undue reliance on such statements. Additionally, CyberSource will file other relevant materials with the SEC in connection with the proposed acquisition of CyberSource by Visa pursuant to the terms of an Agreement and Plan of Merger by and among Visa, CyberSource and Market St. Corp., a wholly-owned subsidiary of Visa. Visa announced on April 21 its agreement to purchase CyberSource, Authorize.Net’s parent, for $26 per common share, or roughly $2 billion in cash. ... Cybersource acquired by Visa . “All gateways have to work with Visa at some point, and Visa will now compete against them in the payment gateway business. By their nature, forward-looking statements: (i) speak only as of the date they are made, (ii) are neither statements of historical fact nor guarantees of future performance and (iii) are subject to risks, uncertainties, assumptions and changes in circumstances that are difficult to predict or quantify. The “online version of a payments terminal” was how the media portrayed Visa ’s acquisition of CyberSource in 2010. Payment network operator Visa has agreed to acquire e-payment company CyberSource for $26 per share, or total consideration of … CyberSource was then able to focus their efforts on large enterprises while refocusing Authorize.net on the needs of small- to medium-sized businesses. His company is a reseller of Authorize.Net’s services. Jeff Bezos launched Amazon.com in 1995, and Jerry Yang co-launched Yahoo! Authorize.Net, in short, is a pioneer in the ecommerce industry. Go2net was then acquired by InfoSpace in October 2000, who then sold Authorize.Net to Lightbridge, in April 2004. Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. 7/20/2010. It enables Visa to collect more fees from online transactions, and gets them closer to managing risk involved with transaction data going over the Internet. The acquisition builds on a strategic partnership and investment Visa made in Payworks in February 2018. They were first established as an online payment/fraud management service in 1994 and acquired Authorize.Net in 2007. “This is a great opportunity for Visa. That letter reads, in part: “In the near-term nothing will change. Also, those competing gateways will be relying on Visa, in part, for PCI and general compliance approval. The combination is expected to accelerate the growth of the eCommerce category and enhance the value of Visa's network, product and service offerings to financial institutions, merchants, partners and consumers. 1. Who is CyberSource? Visa has unveiled the final acquisition deal in April 2010. Visa expands e-commerce abilities with Cybersource acquisition. Later this year, all of those companies will likely be combined as Visa and CyberSource announced recently that Visa intends to purchase that company. Having said that, it is not clear how much of the upside from ecommerce CyberSource can deliver to Visa. in 1994. CyberSource processes approximately 25% of all eCommerce dollars transacted in the United States for more than 295,000 merchants through its CyberSource … Visa on Wednesday accelerated its push into online payments and e-commerce, agreeing to buy Cybersource, an electronic payments company, for about $2bn in cash. After Knowles founded the company in 1996, he sold it to Go2net in 1999. Visa announced on April 21 its agreement to purchase CyberSource, Authorize.Net’s parent, for $26 per common share, or roughly $2 billion in cash. “For the past two years, we have partnered closely with Payworks to deliver cutting-edge integrated commerce solutions for Cybersource’s clients worldwide,” said Carleigh Jaques, SVP, global head of digital merchant products, Visa. That connection is now known as a payment gateway, and Authorize.Net has grown to represent over 225,000 online merchants. This acquisition … Companies People Investors Funding Rounds Acquisitions Schools Events Hubs Saved . Cybersource acquired the U.S. small business payment services provider, Authorize.Net, in November 2007 for $565 million. Bell ID . CyberSource CEO: “Secular Trends Favor Ecommerce Businesses”, Interview: Authorize.Net President On Fraud Prevention, Authorize.Net Exec Offers Fraud Prevention Tips, Using Past Customers to Help New Shoppers, Smartphones, Tablets Account for 1 in 8 Visits, 1996 – Founded by Jeff Knowles, a credit card-terminal salesman, in Utah, 1999 – Acquired by Go2net, for $90 million, 2000 – Acquired by InfoSpace, upon that company’s purchase of Go2Net, 2004 – Acquired by Lightbridge, for $82 million, 2007 – Acquired by CyberSource, for $660 million, 2010 – Proposed acquisition by Visa of CyberSource and Authorize.Net, for $2 billion, Visa’s resources provide a means to accelerate development and deliver more new, innovative solutions, Visa’s global presence offers the opportunity to make international markets more accessible, The combination of our two companies creates new opportunities for collaboration between Visa, merchants and allied partner communities.”.
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