Company:CyberSource
| Type | Payment Gateway |
|---|---|
| Industry | Technology |
| Founded | 1994 |
| Headquarters | Foster City, California , United States |
| Parent | Visa Inc. |
Cybersource is an American payment gateway founded in 1994.
In November 2007, Cybersource acquired the U.S. small business payment services provider Authorize.net for $565 million.[1]
On April 22, 2010, Visa Inc. acquired Cybersource for $2 billion.[2][3]
History
CyberSource was founded in 1994 by William S. McKiernan.[4] The company was created to provide online payment and fraud management services for medium and large-sized merchants. It initially launched software.net, an online software store, and built the payment infrastructure for its own e-commerce operations.[4]
During the dot-com boom, CyberSource went public. The company commenced its initial public offering (IPO) on June 23, 1999, issuing 4 million shares of common stock at an offering price of $11 per share. The company was listed under the stock ticker CYBS.[5]
In 2007, CyberSource announced its acquisition of Authorize.Net, a provider of payment solutions for small businesses, for $565 million.[1][6] This move expanded CyberSource's market reach from its traditional base of mid-sized and enterprise customers to include small businesses.[6]
On April 21, 2010, Visa Inc. announced it had agreed to acquire CyberSource for approximately $2 billion in cash.[2][7] The primary strategic rationale for the acquisition was to accelerate Visa's growth in the e-commerce sector.[8] A key aspect of the strategy was the plan to combine CyberSource's detailed merchant-level transaction data with Visa's extensive network-wide data. During the acquisition announcement, Visa executives stated that combining these two data sets was a "key synergy calculation" and would allow for the creation of more powerful and predictive fraud prevention services.[9]
The acquisition was completed on July 21, 2010, at which point CyberSource became a wholly-owned subsidiary of Visa Inc.[10]
See also
- List of on-line payment service providers
References
 |  |
- ↑ 1.0 1.1 "Cybersource to Buy Authorize.Net in $565M Deal". eWeek. 2007-06-19. http://www.eweek.com/article2/0,1759,2147769,00.asp.
- ↑ 2.0 2.1 "Visa seeks online growth with Cybersource". Reuters. 2010-04-21. https://www.reuters.com/article/idUSTRE63K2HB20100421.
- ↑ Martin, Andrew (2010-04-21). "Visa Buys Cybersource for $2 Billion" (in en-US). The New York Times. ISSN 0362-4331. https://www.nytimes.com/2010/04/22/business/22visa.html.
- ↑ 4.0 4.1 "DEFINITIVE PROXY STATEMENT". 2008-04-10. https://www.sec.gov/Archives/edgar/data/934280/000120677408000758/cybersource_nps.htm.
- ↑ Marcial, Gene (1999-07-26). "Cybersource Looks After E Business - Bloomberg". https://www.bloomberg.com/news/articles/1999-07-25/cybersource-looks-after-e-business.
- ↑ 6.0 6.1 "CyberSource buys Authorize.Net for $565m" (in en). 2007-06-18. https://www.finextra.com/pressarticle/15556/cybersource-buys-authorizenet-for-565m.
- ↑ "Visa Buys CyberSource for $2 Billion (Published 2010)" (in en). 2010-04-22. https://www.nytimes.com/2010/04/22/business/22visa.html.
- ↑ Live, Mobile World (2010-05-05). "Mobile Payment: CyberSource CEO Addresses Visa's Acquisition" (in en-GB). https://www.mobileworldlive.com/old_latest-stories/mobile-payment-cybersource-ceo-addresses-visa-s-acquisition/.
- ↑ "V - Visa Inc. Conference Call to discuss Acquisition of CyberSource" (PDF). 2010-04-21. https://s1.q4cdn.com/050606653/files/doc_downloads/acquisitions%20and%20agreements/V-Transcript-2010-04-21T12_30.pdf.
- ↑ "Visa Inc. Completes Acquisition of CyberSource" (in en-CA). http://investor.visa.com/news/news-details/2010/Visa-Inc-Completes-Acquisition-of-CyberSource/.
