06-19-2007, 08:57 AM
Press release:
full press release: http://sev.prnewswire.com/computer-elect...007-1.html
full article: http://www.internetretailer.com/dailyNews.asp?id=22806
Quote:- CyberSource Corporation (NASDAQ: CYBS), a leading provider of electronic payment and risk management solutions, and Authorize.Net Holdings, Inc. (NASDAQ: ANET) , a leading provider of IP based payment solutions, today announced the signing of a definitive agreement whereby CyberSource will acquire Authorize.Net in a stock and cash transaction valued at approximately $565 million, as of the close of the NASDAQ Global Market System on June 15, 2007.
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...
full press release: http://sev.prnewswire.com/computer-elect...007-1.html
Quote:Weinberg says smaller merchants will benefit from the deal because they will gain access to the sophisticated antifraud tools CyberSource provides to larger merchants today. CyberSource is best in class, its what theyre known for, he says. The little guys dont have the in-house capabilities to adequately protect themselves....
full article: http://www.internetretailer.com/dailyNews.asp?id=22806