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01/28/2008
eBay to acquire online risk tools provider Fraud Sciences for $169 million
eBay has agreed to acquire the Isreali online risk tools provider Fraud Sciences for $169 million in a cash transaction. Fraud Sciences’ risk tools and analytics are intend to enhance the fraud management systems of eBay and its online payment solutions firm, PayPal.
“Integrating Fraud Sciences’ risk tools with PayPal’s sophisticated fraud management system should allow us to be even more effective in protecting eBay and PayPal's hundreds of millions of customers around the world," said Scott Thompson, President of PayPal.
Key personnel from Fraud Sciences, including Yossi Barak, Fraud Sciences’ COO, and founders Shvat Shaked and Saar Wilf, will join the company’s technology and fraud management teams. Gadi Maier, Fraud Sciences' President and CEO, will provide strategic and operational support to the company during the integration period.
Fraud Sciences has developed a technology that differentiates between real and fraudulent transactions with unprecedented accuracy. Using this groundbreaking technology, Fraud Sciences offers a unique transaction verification service to manage online fraud. Fraud Sciences is funded by BRM Capital, Redpoint Ventures and other US and Israeli investors.
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15:45 Posted in E-commerce | Permalink | Email this